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puteri [66]
3 years ago
10

You started your first job after graduating from college. Your company offers a retirement plan for which the companycontributes

25% of what you contribute each year. You expect to contribute $5,000 per year from your salary. You decideto invest the contributions in assets that you expect to earn 8% per year. If you plan to retire in 35 years, how big will youexpect that retirement account to be?A. $861,584.02B. $921,597.31C. $972,110.74D. $1,076,980.02
Business
1 answer:
Nesterboy [21]3 years ago
3 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Annual deposit= 5,000*1.25= $6,250

n= 35 years

i= 0.08 annual

To calculate the future value of the retirement plan, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {6,250*[(1.08^35)-1]}/0.08= }$1,076,980.02

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Explanation:

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The success of a company depends on how consistently employees follow established processes?
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A corporation sold 1,000 shares of its $2.00 par value common stock for $10.00 per share and later repurchased 100 of those shar
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Answer:

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Explanation:

The reason is that when 1,000 shares which has $2 par value and were issued at $10 per share, the journal entry was:

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But when 100 shares were repurchased at $12 per share, then the accounting treatment would be

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5 0
3 years ago
Fleet, Inc. manufactured 700 units of Product A, a new product, in 20Xl. Product Xs variable and fixed manufacturing costs per u
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Answer:

The change in the dollar amount of inventory is $200 due to change in the inventory costing method.

Explanation:

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