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jenyasd209 [6]
3 years ago
14

If you want to be able to withdraw $100,000 per year forever beginning 20 years from now, how much will you have to have in your

retirement account (that earns 8% per year interest) in year 0 (now)
Business
1 answer:
Schach [20]3 years ago
5 0

Answer:

The answer is $289,640.08

Explanation:

Solution

Given that:

You want to make a withdrawal of the amount = $100,000 per year

Number of years = 20

Interest per year = 8%

Now,

Let the current balance required is X

The amount in bank due to the interest after 19 years =X(1+0.08)^19

This should be equal to the 100,000 drawn forever.

Thus,

X(1.08)20-100,000=A(1.08)19 [i.e after drawing $100,000 a year later, this same amount should remain]

Hence,

X = $289,640.08

Therefore the amount you will have to have in your retirement account in year 0 is $289,640.08

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a bookstore sells 617 books on monday, 498 books on tuesday, and 563 books on wednesday. on which two days did the bookstore sel
OLga [1]

The two days on which the bookstore sells about 600 books are Monday(617) and Wednesday(563).

As of Monday, the sales of the bookstore were only 617, on Tuesday it was 498 and on Wednesday it was 563. As we arrange the data in ascending order as 498<563<617. We come to the conclusion that around 600 there are only two data which are 563 and 617. So, on Monday and Wednesday, the bookstore sells about 600 books.

Learn more:

<u><em>brainly.com/question/13444388</em></u>

6 0
1 year ago
banc corp. trust is considering either a bankwide overhead rate or department overhead rates to allocate $272,000 of indirect co
valkas [14]

$96,000 would be the indirect costs allocated to the commercial department.

These include expenses linked to many projects and expenses unrelated to the project's actual construction. Examples of typical indirect project costs include payroll taxes, employee benefits, workers' compensation insurance, general liability insurance, and equipment fuel and maintenance.

<h3>What is DLH?</h3>

indirect expenses are accounting, auditing, and legal fees, as well as business permits, office expenses, rent, supervisor salaries, telephone expense, and utilities. Indirect expenses may or may not be allocated.

Following is how the price per unit is calculated: Divide $272,000 by 17,000 direct labor hours to get $16.

17,000 direct work hours were contributed by both consumers and enterprises in total (11,000 + 6,000).

Currently, the indirect cost per unit is $96,000, or about 16,600 hours of commercial direct labor.

The amount of direct labor hours required to create one unit of a product is known as the direct labor hours. By dividing the total number of finished items by the total amount of direct labor hours required to produce them, the figure is obtained.

To learn more about  DLH refer to:

https://brainly.in/question/13594332

#SPJ4

3 0
1 year ago
A 1,500 square foot office space is leased at $12.00 square foot. The space is vacant one month out of the year. Office expenses
Ymorist [56]

Answer:

$7500

Explanation:

An expense stop is a tool used by landlords to limit their operating costs and maintain predictable operating costs over the terms of the lease. Hence, even though the operating expense is $6.50, the landlord is only accountable for $6.

The operating costs annually would be: 1500 x 6 = 9000

(Even though the office space is vacant for one month of the year, maintenance costs will still be incurred throughout the year, whether leased or vacant)

Annual income :

1500 x 12 = $18000 (12 months)

It should be noted though that the office space is vacant for one month. Hence, landlord only receives 11 months worth of leased rent. Actual income : (18000/12) x 11 = $16500

Net operating income annually : Total income - Total expenses = $16500 - $9000 = $7500

3 0
3 years ago
What is the difference between a nominal value and a real value?a. A nominal value is measured in monetary units adjusted for in
Allushta [10]

Answer:

In economics, nominal value refers to the current monetary value and does not adjust for the effects of inflation

Explanation:

6 0
3 years ago
g The transactions of Spade Company appear below. Kacy Spade, owner, invested $100,750 cash in the company in exchange for commo
Stolb23 [73]

Answer:

1)

Dr Cash 100,750

    Cr Common stock 100,750

Dr Office supplies 1,250

    Cr Cash 1,250

Dr Equipment 10,050

    Cr Accounts payable 10,050

Dr Cash 15,500

    Cr Fees earned 15,500

Dr Accounts payable 10,050

    Cr Cash 10,050

Dr Accounts receivable 2,700

    Cr Fees earned 2,700

Dr Rent expense 1,225

    Cr Cash 1,225

Dr Cash 1,125

    Cr Accounts receivable 1,125

Dr Dividends 10,000

    Cr Cash 10,000

2)

         <u>Cash</u>                                             <u>Accounts receivables</u>

Debit           Credit                                 Debit           Credit    

100,750       1,250                                  <u>2,700          1,125  </u>

15,500         10,050                                1,575

1,125             1,225

<u>                     10,000</u>

94,850

 <u>Office Supplies</u>                                       <u>Equipment</u>

Debit           Credit                                 Debit           Credit    

<u>1,250                      </u>                                 <u>10,050                    </u>

1,250                                                       10,050

<u>Accounts payable</u>                                   <u>Common Stock</u>

Debit           Credit                                 Debit           Credit    

<u>10,050        10,050 </u>                                <u>                    100,750 </u>

0                  0                                                              100,750

   <u>Fees earned</u>                                      Rent Expense

Debit           Credit                                 Debit           Credit    

                   15,500                                <u>1,225                      </u>

<u>                    </u><u>2,700</u><u> </u>                                 1,225

                   18,200

<u />

<u />

     <u>Dividends</u>

Debit           Credit

<u>10,000                   </u>

10,000

4 0
3 years ago
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