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Mnenie [13.5K]
3 years ago
12

A worker received a $10,000 bonus and decided to split it among three different accounts. He placed part in a savings account pa

ying 4.5% per year, twice as much in government bonds paying 5%, and the rest in a mutual fund that returned 4%. His income from these investments after one year was $455. How much did the worker place in the government bonds?
Business
1 answer:
kotykmax [81]3 years ago
4 0

Answer:

so savings = $2200

bonds = $4400

and mutual fund = $3400

Explanation:

given data

received bonus = $10,000

savings account paying = 4.5% per year

bonds paying = 5%

mutual fund that returned = 4%

income from these investments = $455

to find out

How much did the worker place in the government bonds

solution

we consider amount invested for 4.5 % is = x

and hen his investment in bonds is = 2x  for 5%

and rest is  10000- x  - 2x

that is = (10000- 3x ) for 4%

so

interest equation will be here

0.045 x + 0.05 (2x) + 0.04 (10000-3x) = 455

solve we get

x = 2200

so savings = $2200

bonds = $4400

and mutual fund = $3400

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2 years ago
Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $105,000. Not included in
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The corporation's current earnings and profits for year one would be (A) $354,000.

<h3>What is taxable income?</h3>
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  • Many systems stipulate that certain types of income are not taxable (also known as non-assessable income) and that certain expenses are not deductible when calculating taxable income.
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<h3>To find the current earnings and profit for one year:</h3>

Income + Installment sale = 500,000 + 25,000 = $525,000

Income taxes + tax-exempt income = 170,000 + 1000 = $171,000

525,000 - 171,000 = $354,000

Therefore, the corporation's current earnings and profits for year one would be (A) $354,000.

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Complete question:

Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $170,000. Not included in the computation was a disallowed meal and entertainment expense of $2,000, tax-exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for year 1 would be:

A) $354,000.

B) $524,000.

C) $500,000.

D) $331,000.

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Answer:

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Data provided in the question

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