Answer:
Option (a) is correct.
Explanation:
Amount paid for house three years ago = $85,000
Selling price of house today = $110,000
Therefore,
Property appreciated by following percentage:
= (change in value ÷ Amount paid for house three years ago) × 100
= [($110,000 - $85,000) ÷ $85,000] × 100
= ($25,000 ÷ $85,000) × 100
= 0.2941 × 100
= 29.41%
Answer:
B $3000/year
Explanation:
The minimum amount of salary that Danny should contribute to his 401(k) plan each year = 6% of his annual salary = 6/100 × $50000 = $3000/year
Answer:
5.3%
Explanation:
Year Cash-flow
0 -$5,000
1 $700
2 $800
3 $900
4 $3,500
<em>Using the IRR Function on MS Excel</em>
IRR of the machine = IRR(Cashflow 0,1,2,3,4)
IRR of the machine = 0.053
IRR of the machine = 5.3%
Answer:
The answer is:
1.A person who is unable to pay taxes does not have to pay them.
If you unable to pay your taxes, the amount of payment that you have to pay this year would be accumulated to the tax payment next year.
2.A person who chooses not to pay taxes does not have to pay them.
Paying taxes is an obligation of all working citizens, not a right. We do not get to choose whether we have to pay taxes or not.
3.Simply forgetting to file taxes will not result in jail time.
Since there is no actual intend to not paying your taxes, simply forgetting it usually would only resulted in fines from the IRS.
