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vodka [1.7K]
3 years ago
11

Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you received your s

alary of $52,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 9.2 percent per year. Your salary will increase at 3 percent per year throughout your career. How much money will you have on the date of your retirement 40 years from today?
Business
1 answer:
s344n2d4d5 [400]3 years ago
6 0

Answer:

Final Value= $4,216,869

Explanation:

Giving the following information:

You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 9.2 percent per year. Your salary will increase at 3 percent per year throughout your career. Your salary is $52,000

Your retirement is in 40 years.

We need to use the following formula:

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

A=annual payment= 5,200

i= 9.2% interest + 3% year increase= 12.2%

n=40

FV= {5,200*[(1.122^40)-1]}/0.122

FV= $4,216,869

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Blababa [14]

Answer:

$3,176 , it's two months of interests $1,588 + $1,588

Explanation:

If the company paid each month 1/12 of capital plus interest it means that it's necessary to deduct the total amount of interests paid each month.

The company paid $25,588 and the monthly capital it's $24,000, therefore the company paid on interest an amount of $1,588 each month.

The issue of a one year installment note means that the company repay the principal to the lender in a series of periodic payments, in this case each month pay principal plus interests

In the income statement we have to applied the accrual criteria which means that the company only recognize the interest paid in the past months, November and December.

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3 years ago
Weiss Lenscorp, a maker of camera lenses, provides a 3-year warranty against defects on all of its products. In fulfilling its w
GuDViN [60]

Answer:

warranty liablity account ending balance:  3,510,000

Explanation:

In total, we expect a warranty expense for 6% for each sale distributed among three years.

For the 32,000,000 million sales for 2019 we expect:

32,000,000 x 6% = 1,920,000 warranty expense.

                                   warranty liaiblity

                                   debit       credit

beginning                                3,370,000

expenditures          1,780,000

warranty expense  <u>                 1,920,000</u>

balance                                    3,510,000

6 0
3 years ago
3. An investor shorts 100 shares when the share price is $20 and closes out the position six months later when the share price i
solniwko [45]

Answer:

$160

Explanation:

Calculation to determine How much does the investor gain or lose

Investor gain =[($20-$18.2)*100 Shares]- ($0.2*100 shares)

Investor gain=($1.8*100 shares)-($0.2*100 shares)

Investor gain=$180-$20

Investor gain=$160

Therefore The amount that the investor gain is $160

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3 years ago
Kent Fuller is in the 34 percent tax bracket. A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent v
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Answer:

$3,484.85

Explanation:

Calculation to determine tax-equivalent value

Using this formula

Tax-equivalent value=Nont-taxable amount/(1-Tax rate)

Let plug in the formula

Tax-equivalent value=$2,300/(1-.34)

Tax-equivalent value=$2,300/.66

Tax-equivalent value=$3,484.85

Therefore A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent value of:$3,484.85

6 0
3 years ago
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Answer:

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Basically, any speaker who wish to create an effective presentation should endeavor to interact frequently with the audience by holding a conversation.

This ultimately implies that, to create an effective presentation, speakers are saddled with the responsibility of interacting more often with the audience by taking questions, making a joke, getting them to repeat informations loud at intervals etc.

If during your presentation, you realize that you are talking too fast. This is a problem of presentation skills challenges.

Hence, speakers are advised to be passionate and show enthusiasm during their presentation because it would enhance their ability to speak confidently and as such leading to an engaging presentation.

3 0
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