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Luba_88 [7]
3 years ago
5

Martha's grandfather put $2000 in a savings account for Martha's college fund when she was born. If the account pays three perce

nt interest, compounded quarterly, how much will Martha have for college when she is 18?
Business
1 answer:
seraphim [82]3 years ago
8 0

Answer: $3,425

Explanation: Quarterly compounding periods for 18 years is 4 x 18 = 72 and the payment amount is $2,000.

2000 (1+.03/4)^72 = 3425.11

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Determine whether each scenario is an example of tax avoidance or tax evasion. Andrea keeps a record of all her business-related
Brums [2.3K]

Answer:

1. Tax avoidance

2.Tax avoidance

3.Tax evasion

Explanation:

Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.

Examples of tax avoidance are;

1. Andrea keeps a record of all her business related expenses.

2. Daniel claims the amount of interest paid for his mortgage as tax deductions.

Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.

Example of tax evasion is ;

3. Christian did not report the tips he earned on his tax return.

7 0
3 years ago
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Lock the card, and contact the bank.
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Unexpected weather can even have an effect on the business cycle. true or false
gulaghasi [49]
True.................
7 0
3 years ago
Read 2 more answers
What was the main reason that Carnegie invested in the Frick Coke Company? He wanted to make sure he could always get fuel for h
Nikolay [14]

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VMariaS [17]

Answer:

A.Basis for depreciation=$38,000 gain

Loss basis =$33,000 (Fair market value)

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8 0
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