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andreev551 [17]
3 years ago
14

Suppose you put $800 per month into a Roth IRA, that pays 8% APR (compounded monthly). Assume you have nothing saved today, calc

ulate the future value of the retirement account 30 years from today. (Enter a positive value and round to 2 decimals)
Business
2 answers:
Olegator [25]3 years ago
7 0

Answer:

Future Value = $1,192,287.56

Explanation:

<em>The future value is the expected total sum that an investment is suppose to accumulate together with interest over a period of time at a particular interest rate.</em>

Where compounding is done done monthly, he future value is determined as follows:

FV = PV ×( (1+r)^n -1 )/ r

FV - Future Value , PV - present value  r- monthly rate of interest ,  n- number of months

FV - ?  

r- 8%/12 = 0.66%

n - 30× 12 =

PV - 800

FV = 800 × ( (1.00666)^(360) - 1 )/ 00666

    = 800 ×  1490.359449

    =  $1,192,287.56

mestny [16]3 years ago
3 0

Answer:

$1192288

Explanation:

See attached file

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Pittman Framing's cost formula for its supplies cost is $1,200 per month plus $20 per frame. For the month of November, the comp
Darya [45]

Answer:

$450 U

Explanation:

Spending Variance for Supplies = Standard Cost - Actual Cost

Standard cost formula = $1,200 per month + $20 per frame

Standard cost for actual output = $1,200 + ($20 \times 610)

= $1,200 + $12,200

= $13,400

Actual cost = $13,850

Spending Variance = $13,400 - $13,850

<u>= -$450 Unfavorable</u>

Since the value is negative the variance is unfavorable as actual cost is more than standard cost of the product.

8 0
3 years ago
Hayden Company is considering the acquisition of a machine that costs $406,000. The machine is expected to have a useful life of
kow [346]

Answer:

c.4.2 years

Explanation:

The computation of the estimated cash payback period is given below:

As we know that

the estimated cash payback period is

= initial investment ÷ net cash flow per period

= $406,000 ÷ $96,000

= 4.2 years

Hence, the estimated cash payback period is 4.2 year

Therefore the option c is correct

4 0
2 years ago
Karen owns City of Richmond bonds with a face value of $10,000. She purchased the bonds on January 1, 2018, for $11,000. The mat
Ainat [17]

Answer:

amount of taxable interest income that Karen report for 2018 = 0

Amortization per year = $100

Adjusted basis  = $ 10,900

Explanation:

given data

face value = $10,000

purchased the bond = $11,000

interest rate = 4%

solution

we know here that City of Richmond bonds that is tax exempted

so that amount of taxable interest income that Karen report for 2018 = 0

and

as Premium on the bond is

Premium on the bond = purchased the bond - face value

Premium on the bond  = 11,000 - 10,000 = 1,000

and here time Period = 10 years  ( January 1, 2018 to December 31, 2027 )

so Amortization per year is

Amortization per year = \frac{1000}{10}

Amortization per year = $100

so

Adjusted basis will be = Purchase price - Premium amortized

Adjusted basis = 11,000 - 100

Adjusted basis  = $ 10,900

8 0
3 years ago
According to the video, what are some common responsibilities of industrial production managers? check all that apply.
dmitriy555 [2]

Answer:

staff, equipment, schedules, quality control, and inventory

Explanation:

EDGE2022

5 0
2 years ago
During a management meeting, Dave, the CEO of Top Office Equipment, reminded his management team of where the company wants to g
kirill115 [55]

Answer:

Vision statement

Explanation:

A vision statement bis defined as the statement of a business's objectives, and acts as a guide when there is internal decision making to be done within the organisation.

The vision statement outlines what the organisation aims to achieve. It should be short, simple, specific, and not open to different interpretations.

Dave the CEO is reminding the employees where the company wants to go as an organisation by stating the vision statement: "Top Office Equipment is the expert whom customers should always call regarding all their office equipment needs because Top Office strives to understand customer needs and provide the right answers for them."

6 0
3 years ago
Read 2 more answers
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