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kykrilka [37]
3 years ago
6

You wish to retire in 20 years, at which time you want to have accumulated enough money to receive an annual annuity of $24,000

for 25 years after retirement. During the period before retirement you can earn 10 percent annually, while after retirement you can earn 12 percent on your money. What annual contributions to the retirement fund will allow you to receive the $24,000 annuity? Use Appendix C and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.
Business
1 answer:
son4ous [18]3 years ago
3 0

Answer:

$3,286.52

Explanation:

PVA= A×({1 −[1 / (1 + i)n]} / i)= $24,000 ×({1 −[1 / (1.12)25]} / .12)

= $188,235.34

FVA= A×{[(1 + i)n−1] / i}A=

FVA/ {[(1 + i)n−1] / i}= $188,235.34 / {[(1.10)20−1] / .10}= $3,286.52

To determine the annual deposit into an account earning 10 percent that is necessary to accumulate$188,235.34 after 20 years, solve for the annuity:

N= 20

I/Y=10

PV=0

PMT=CPT PMT -3286.52

FV=188 235.34

Answer: $3,286.52

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Mekhanik [1.2K]

The question asks to describes any two methods of searching a job when you actually need for a new job. Also to search jobs you can prefer,

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<u>Explanation:</u>

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7 0
3 years ago
Following are transactions for Valdez Services, a company owned by Brina Valdez. A. Brina Valdez invested $20,000 cash in the co
Sphinxa [80]

Answer:

Transactions that create revenue :

Transaction B

Transaction C

Transaction D

Journal Entries :

<u><em>Transaction B</em></u>

Cash $900 (debit)

Sales Revenue $900 (credit)

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Cash $10,000 (debit)

Unearned Revenue $10,000 (credit)

<u><em>Transaction D</em></u>

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Accounts Receivable  $3,500 (credit)

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Transactions that create revenue

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3 years ago
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Answer:

Effect on income= $4,500 increase

Explanation:

Giving the following information:

Special offer: 9,000 units of product S51 for $20.50 a unit.

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<u>Because it is a special offer, we will not have into account the fixed costs.</u>

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