1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lyudmila [28]
3 years ago
14

Gramps purchased a joint survivor annuity that pays $500 monthly over his remaining life and that of his wife, Gram. Gramps is 7

0 years old and Gram is 65 years old. Gramps paid $97,020 for the contract. How much income will Gramps recognize on the first payment?
Business
1 answer:
Bezzdna [24]3 years ago
6 0

Answer:

$150

Explanation:

Calculation of how much income that Gramps will recognize on the first payment.

Since joint survivor annuity has 23.1 as the annual return multiple .

Calculation for Expected return

Expected return =Annual payment *Return multiple

($500*12) =$6,000

$6,000×23.1

=$138,600

Therefore :

$97,020/$138,600

=0.7×100

=70%

The 70% of each of the payment will be the return of capital while the 30%(100%-70%) will be the income.

Hence the first payment be:

30%×500

=$150

Therefore the amount of income that Gramps will recognize on the first payment will be $150

You might be interested in
Eduardo is currently involved in FBLA (Future Business Leaders of America). He has dreams to work on Wall Street. Assuming he wi
jarptica [38.1K]

Answer:

sag

Explanation:

not sure

6 0
2 years ago
From 2007 to 2012, the u.s. personal savings rate rose. if the additional savings were not translated into investment, keynes wo
ankoles [38]
Keynes would predict that aggregate income would decline, but rise in the future, if the additional savings were not translated into investment.
According to the Keynesian model. the government puts price controls on the economy, keeping the price level fixed.
6 0
3 years ago
Jenks Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value (L
Neko [114]

Answer:

$365,000

Explanation:

The computation of the inventory reported on the balance sheet is shown below:

<u>Product                  Cost                NRV            Lower cost</u>

A                            $115,000         $125,000    $115,000

B                            $95,000          $75,000     $75,000

C                            $175,000         $180,000   $175,000

Total                                                                  $365,000

7 0
3 years ago
____________ is best defined as a statistical procedure, which involves quantitatively pooling the data from a group of independ
Ludmilka [50]
The meta-analysis is the best represent as a statistical action, that which involves quantitatively pooling the data from a group of independent studies that have studied the same or similar clinical problems, by using the same or similar research methods.
3 0
3 years ago
What is the factor affect the net export of a country
Tamiku [17]

The factor that affect the net export of a country include:

  • domestic and foreign incomes
  • relative price levels
  • exchange rates
  • foreign trade policies etc

<h3>What is a net export?</h3>

This refers to the the difference between the monetary value of a nation's exports and imports over a certain time period.

In conclusion, the net export is derived after the deduction of the total import from the total export in a year.

Read more about net export

<em>brainly.com/question/21205765</em>

#SPJ1

3 0
2 years ago
Other questions:
  • Your family runs a specialty ice cream parlor, Scoops. It manufactures its own ice cream in small batches and sells it only in p
    6·1 answer
  • What is infomercial​
    7·2 answers
  • Difference between a will and a living trust
    15·1 answer
  • after all of your expenses are subtracted from your income, the money left over is known as your savings.
    14·1 answer
  • If the interest rate is 10​%, what is the present valueLOADING... of a security that pays you ​$1 comma 100 next​ year, ​$1 comm
    12·1 answer
  • Jesse launched a cheaper variant of her high-performing dishwashing liquid, anticipating similar success. Which strategy has Jes
    12·1 answer
  • Accountants rely heavily on using Excel to perform a wide range of activities to record transactions and report their results. I
    5·1 answer
  • Bayside Marina just announced it is decreasing its annual dividend from $1.48 per share to $1.45 per share effective immediately
    13·1 answer
  • Profit Suppose that the daily profit (in dollars) from the production and sale of x units of a product is given byP180xx21000200
    14·1 answer
  • Alejandro recently established a maintenance company as a sole proprietorship. He
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!