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kipiarov [429]
3 years ago
15

You decided to save all of tax refunds next four years. Given your projection of your annual income and effective tax rate, you

believe that you will be able to invest $3,000, $3,300, $3,800, and $4,000 next four years, respectively, starting a year from today. Your estimated rate of return on this investment is 5%. How much can you withdraw in 4 years
Business
1 answer:
Galina-37 [17]3 years ago
7 0

Answer:

Final value= $15,101.13

Explanation:

Giving the following information:

You believe that you will be able to invest $3,000, $3,300, $3,800, and $4,000 next four years. The interest rate is 5%.

To calculate the final value of each deposit we need to use the following formula:

FV= PV*(1+i)^n

Year 1= 3,000*1.05^3= $3,472.88

Year 2= 3,300*1.05^2= 3,638.25

Year 3= 3,800*1.05= 3,990

Year 4= 4,000

Total= $15,101.13

You might be interested in
Total Materials VarianceKrumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.7 oun
Nataliya [291]

Answer:

The correct answer for Price variance is $37,500( unfavorable) and for Usage variance is $19,200 ( Favorable).

Explanation:

According to the scenario, the given data are as follows:

Actual quantity = 1,875,000 ounces

Standard rate = $0.08 per ounce

Actual rate = $0.10 per ounce

Standard quantity = 4,50,000 × 4.7 = 2,115,000 ounces

So, Direct material price variance = Actual quantity × ( Standard rate - Actual rate )

= 1,875,000 × ( 0.08 - 0.10 )

= - $37,500 ( Negative shows Unfavorable)

and Direct material usage variance = standard rate per unit × (standard quantity - actual quantity)

=  $0.08 ( 2,115,000 - 1,875,000)

= 19,200 ( Positive shows Favorable)

3 0
3 years ago
, a doctor from the local hospital, is a friend of Fran, the owner of a candy store. Every day, Ed spends about five minutes in
just olya [345]

<u>Answer:</u>

<u>- Yes,</u>

<u>- Bilateral, Implied contract which is enforceable.</u>

<u>Explanation</u>:

Note, both parties consented to a contract even though it was an informal setting. Remember, certain gestures were used by Ed to show contract acceptance, There's also valid consideration since the value of the exchange is known; which is a candy bar for $1.

Fran thus understands that Ed will pay for the candy later since he saw the sign, this also makes it a bilateral contract (between two parties only). The contract is also enforceable since it is legal to sell candies.

6 0
3 years ago
Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared.
DerKrebs [107]

Answer:

Net income = $3,560

Explanation:

                                       Romney's Marketing Company

                                        Multi-step income statement

                               For the Year ended December 31 20YY

Sales revenues 37,250

Less: Cost of goods sold = 0

Gross profit                                                          = 37,250

Less: Operating expense:

Wages expense                                 = $19,000

Depreciation expense                       = $1,750

Utilities expense                                = $320

Insurance expense                            = $780

Rent expense                                     = $9,800

Total operating expense                   = ($31,650)

Add: operating income:

Rent revenue                                      =  $560

Total operating income                                         = $6,160

Other operating income

Interest revenue                                                    = 160

Net income before taxes                                      = $6,320

Income tax expense                                              = $2,760

Net income                                                             = $3,560

4 0
3 years ago
While a(n) Blank______ firm views the world as one market and emphasizes cultural similarities across countries rather than diff
givi [52]
  • A firm that treats the whole world as one market by emphasizing the similar cultures in all the countries is called a global marketing firm.
  • A firm that observes the world is comprised of different countries and done marketing of products in each country in a varied manner is called a multinational marketing firm.

<h3>What is a marketing firm?</h3>

A marketing firm is an entity that enabled a business to create, execute and sustain the marketing strategies in the consumer market.

  • The global marketing firm is the one that creates a standardized market in the scenario of similar cultures and adapts when the cultures are different in the worldwide market.
  • The multi-national marketing firm is the entity that introduces varied products, their branding, and promotion in various countries in which they have their businesses.

Therefore, the global marketing firm focuses on marketing in the entire world whereas the multinational marketing firm focuses on the country in which they have their business set up.

Learn more about the marketing in the related link:

brainly.com/question/27155256

#SPJ1

5 0
1 year ago
Pronghorn Company issues 8,900 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value
zysi [14]

Explanation:

The Journal entry is given below:-

A 1. On 1 January 2020  

    Unearned compensation Dr,                           $445,000  

             To Common stock (8,900 × $10)                          $89,000

             To Paid-in Capital in Excess of Par -common stock  $3,56,000

(Being the restricted stock is recorded)

2. On 31 December 2021

    Compensation expenses Dr, ($445,000 × 1÷5)    $89,000

                 To Unearned compensation                                           $89,000

(Being the restricted stock is recorded)

B On 25 July 2024

      Common stock                                                      $89,000

       Paid-in Capital in Excess of Par -common stock $356,000

                   To compensation expenses                                          $356,000

                   To  unearned compensation                                          $89,000

(Being the forfeiture is recorded)

7 0
3 years ago
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