Answer:
There will be $92,635.42 in the account after 15 years.
Explanation:
Missing question <em>"The interest rate is fixed at 2.05%"</em>
As the employer does a 50% match on the employee’s investment, the monthly contribution to the retirement plan will be = 2 * $220 = $ 440.
The future value (F) of an annuity is given by F = (P/r)[(1+r)n-1]
P is the periodic payment
r is the rate per period
n is the number of periods.
P = 440, r = 2.05/1200 and n = 15*12 = 180.
F = (440*1200/2.05)[ (1+2.05/1200)180 -1]
F = (528000/2.05)*0.359664042
F = 92635.4215493
F = $92635.42
Thus, there will be $92,635.42 in the account after 15 years.
D) All states have a flat state tax.
Explanation:
The journal entry to record the re-issuance of the stock is shown below:
Cash A/c Dr $240,000 (20,000 shares × $12)
Retained earnings A/c Dr $80,000
To Treasury stock $320,000
(Being the re-issuance of the stock is recorded)
The computation is shown below:
For treasury stock
= 20,000 shares × ($16 per share - $12 per share)
= $80,000
So as we can see the retained earnings is decreased by $80,000
Overtime pay is the amount overtime paid to each employee in a pay period.
How its calculated: Hourly pay rate x 1.5 x overtime hours worked.
Answer:
(D) He should include a timeframe.
Explanation:
A concrete mapping of his goal in a timeframe is all Mohammed needs to make his goal SMART (Specific, Measurable, Achievable, Realistic, and Timely).
Since Mohammed is someone who has a strong educational and professional background regarding his goal, then the goal automatically becomes realistic and achievable. On the other hand, it is also specific, since he clearly states his desired position (he emphasizes the job of marketing department manager instead of simply stating he wants a promotion).
Since his goal is a discrete (not continuous) event, the Measurable characteristic is somewhat irrelevant.
All that is left for him to do is to state by which point in time he wants to achieve that goal (e.g. in five years' time).
