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Kay [80]
3 years ago
14

An engineer places $7,000 at the end of every year into a retirement account for 22 years. If the account into which the savings

was placed earns 9% per year, how much was in the account at the end of the engineer's career? Express your answer in $ to the nearest $1,000.
Business
1 answer:
castortr0y [4]3 years ago
3 0

Answer:

$440,113.37

Explanation:

Since the engineer is placing $7,000 at the end of every year for the 22 years, therefore the amount which will be saved by him at the end of 22 years  shall be determined through the future value of annuity formula which is given as follows:

Amount after 22 years=R[((1+i)^n-1)/i]

In the given question

R=amount saved by engineer per year=$7,000

i=interest rate involved=9%

n=number of payment to be made=22

Amount after 22 years=7,000[((1+9%)^22-1)/9%]

                                    =$440,113.37

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Anna35 [415]

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Donna made a realized gain of 8,000 dollars

the basis for the building now will be of 152,000 dollars

Explanation:

<u><em>realized gain:</em></u>

insurance proceeds less replacement cost:

160,000 - 152,000 = 8,000

<em><u>the basis</u></em> (value of the new office building for tax purposes) will be the 152,000 which is the cost of the office building

6 0
3 years ago
What are some reasons people dont manage their money well for the future?
Pavlova-9 [17]

People can make poor investments, fail to add to their savings, and decide to spend their money rather than saving or investing.

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I think A and C.

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8 0
3 years ago
Ginger's working on creating her first Google Search Ad. She wants to create an inviting and relevant ad, so potential customers
pav-90 [236]

has a larger font size

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is listed after search results

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Answer:

has a relevant headline

includes a current promotion

Explanation:

A google search ad is a paid advertisement that is created to promote a product or service using the google ads platform and they appear in the search results on Google. To create a relevant ad that will earn user clicks, Ginger should focus on creating an ad that has a relevant headline that is related to the product or service so that it will attract the potential customers that are looking what she is offering. Also, the ad should include a current promotion that will increase potential customer's interest and call them to action.

The other options are not right because having a large font size, being listed after search results  and including at least two different colors  won't get customers interest and lead them to act by clicking on the ad.

7 0
3 years ago
Lance Lawn Services reports warranty expense by estimating the amount that eventually will be paid to satisfy warranties on its
timofeeve [1]

Answer:

Explanation:

The journal entry is shown below:

Income tax expense A/c Dr $30,035,000

       To Deferred tax asset A/c $35,000

       To Income tax payable A/c $30,000,000

(Being the income tax expense is recorded)

The computation is shown below:

For deferred tax asset:

= Deferred tax rate - Warrant liability × tax rate

= $435,000 - $1,000,000 × 40%

= $435,000 - $400,000

= $35,000

For income tax payable:

= Taxable income × tax rate

= $75,000,000 × 40%

= $30,000,000

3 0
3 years ago
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