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VLD [36.1K]
2 years ago
6

A rich uncle wants to make you a millionaire. How much money must he deposit in a trust fund paying 12% compounded quarterly at

the time of your birth to yield $1,000,000 when you retire at age 60? (Round your answer to the nearest cent.)
Business
1 answer:
Reptile [31]2 years ago
8 0

Answer:

P=24.92 per quarter

Explanation:

this problem can be solved applying the concept of annuity, keep in mind that an annuity is a formula which allows you to calculate the future value of future payments affected by an interest rate.by definition the future value of an annuity is given by:

s_{n} =P*\frac{(1+i)^{n}-1 }{i}

where s_{n} is the future value of the annuity, i is the interest rate for every period payment, n is the number of payments, and P is the regular amount paid. so applying to this particular problem, we have:

s_{60*4} =P*\frac{(1+(0.12/4))^{60*4}-1 }{(0.12/4)}

we will asume that deposits are made as interest is compounded it is quarterly thats why we multiply 60 and 4 and also we divide 12% into 4, so:

1,000,000 =P*\frac{(1+(0.12/4))^{60*4}-1 }{(0.12/4)}

solving P

P=24.92

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3 years ago
If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at
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Answer:

$10.49

Explanation:

The computation of the net asset value of the fund is shown below:

= (Market value of the assets - market value of the liabilities) ÷ number of oustanding shares

where,

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3 years ago
In terms of the tax formula applicable to individual taxpayers, which of the following statements, if any, is correct?
creativ13 [48]

Answer:

The correct answer is a. In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.  

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In tax legal relations, the taxable event shows the existence of an economic capacity in the subjects, but for the tax to be applied, this fact must be assessed in some way, usually in monetary units.

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The unemployment rate is usually calculated as the number of unemployed individuals A)divided by the total number of people in a
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C.

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Read 2 more answers
Maris Bothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given below, and
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Answer:

I have prepared the cash disbursement schedule as requested,find it in the attached excel template.

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In addition, I have color blue to lay emphasis on the three months requested for.

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