1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Cloud [144]
3 years ago
12

What is the maximum amount a 45-year-old taxpayer and 45-year-old spouse can put into a Traditional or Roth IRA for 2016 (assumi

ng they have sufficient earned income, but do not have an income limitation and are not covered by another pension plan)?
Business
1 answer:
tangare [24]3 years ago
6 0

Answer:

$5,500 USD

Explanation:

Since traditional Roth IRA accounts cannot be owned jointly, then both individuals must have their own account. That being said they can still contribute to each other's Roth IRA accounts on behalf of their spouse. You can contribute a total of 100% of your earned income up to a limit of $5,500 USD. Pensions are not allowed as contributions. Individual's over the age of 50 have a limit of $6,500

You might be interested in
Find the final amount in the following retirement​ account, in which the rate of return on the account and the regular contribut
ICE Princess25 [194]

Answer:

Total value of the investment= $57,320.73

Explanation:

<u>First, we need to calculate the future value of the first part of the investment. We will calculate the future value for the monthly deposit for five years and then the lump sum for another five years.</u>

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

A= monthly deposit

i= 0.04/12= 0.003333

n= 5*12= 60 months

FV= {322*[(1.003333^60) - 1]} / 0.003333

FV= $21,348.05

<u>For the lump sum:</u>

FV= PV*(1+i)^n

n= 12*5= 60

i= 0.05/12= 0.004167

FV= 21,348.05*(1.004167^60)

FV= $27,397.75

<u>Now, the future value of the second part of the investment:</u>

<u></u>

n= 60

i= 0.0041667

A= 440

FV= {440*[(1.004167^60) - 1]} / 0.004167

FV= $29,922.98

Total value of the investment= 27,397.75 + 29,922.98

Total value of the investment= $57,320.73

3 0
3 years ago
An Iowa state statute requires amusement parks to maintain equipment in specific condition for the protection of patrons. Jack’s
abruzzese [7]

Answer:

The correct answer is letter "C": negligence per se.

Explanation:

Negligence per se is a concept of the United States law that finds an act to be reckless because it violates a statute. To prove negligence per se, the victim will usually show that the defendant violated the law, the act caused the kind of damage that the statute was intended to prevent, and he was a member of the protected class of the statute.

5 0
3 years ago
Gavin tells Rod that he will pay him $400 to paint his house. Rod starts to paint, intending to accept. Halfway through his pain
natta225 [31]

Answer:

Gavin is allowed to revoke if he finds Rod's efforts half-hearted

Explanation:

given  data      

Gavin pay  for paint his house = $400

solution

as given Gavin pay Rod for paint his house at $400 but  Gavin want to revoke the offer so Either he accepts, or he does not accept the offer.

If he starts to paint the offer, and Gavin doesn't like his work, the offer may be canceled.

so scenario is Gavin is allowed to revoke if he finds Rod's efforts half-hearted

7 0
2 years ago
John works in a medium sized office. Last year, the company hired Jane as John's new supervisor. Jane's management style include
matrenka [14]

According to the General Adaptation Syndrome (GAS), John is currently in the third stage, which is <u>exhaustion</u>.

<h3>What is the General Adaptation Syndrome</h3>

The General Adaptation Syndrome states that the body goes through three stages of alarm, resistance, and exhaustion when it is exposed to any kind of stress, whether positive or negative.

At the exhaustion stage, if John does not resolve the stressors, perhaps by confronting Jane in a polite manner, it can lead to the development of physical and mental health problems.

Thus, John is currently in the exhaustion stage of the General Adaptation Syndrome.

Learn more about the General Adaptation Syndrome brainly.com/question/1444902

8 0
2 years ago
A real estate professional specializes in helping both buyers and sellers with the necessary paperwork involved in transferring
ElenaW [278]

Answer:

a transactional broker.

Explanation:

A disclosure is a legally binding agreement between the buyer and seller of a property, wherein the seller highlights all the information or details they know about the property for the purpose of enlightening and informing the buyer. It contains informations such as legal encumbrance, structural flaw, size of property etc.

In this scenario, a real estate professional specializes in helping both buyers and sellers with the necessary paperwork involved in transferring property. Although not an agent of either party, the real estate professional may not disclose either party's confidential information to the other. Thus, the real estate professional is best described as a transactional broker who is licensed to practice within the state.

4 0
2 years ago
Other questions:
  • Suspect Corp. issued a bond with a maturity of 30 years and a semiannual coupon rate of 6 percent 4 years ago. The bond currentl
    15·1 answer
  • A consumer's decision-making process is influenced by his/her _________, consisting of those people who help shape the consumer'
    5·1 answer
  • Those interested in entrepreneurship volunteer their time with service organizations for all of the following EXCEPT.
    8·1 answer
  • Turner Company's contribution margin ratio is 15%. If the degree of operating leverage is 12 at the $150,000 sales level, net op
    12·1 answer
  • Consider a project with the following data: accounting break-even quantity = 19,500 units; cash break-even quantity = 17,500 uni
    8·1 answer
  • A decrease in the cost of production will lead to a(n) _____ in supply.
    11·1 answer
  • At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. How
    14·1 answer
  • PRAISE ALLAH!!!!!!!PRAISE ALLAH!!!!!!!PRAISE ALLAH!!!!!!!PRAISE ALLAH!!!!!!! PRAISE ALLAH!!!!!!!PRAISE ALLAH!!!!!!!PRAISE ALLAH!
    15·2 answers
  • In order for your savings and investments to truly increase in value, what must they do?​ select all that apply
    12·1 answer
  • Felice bought a duplex apartment at a cost of $165,000. Her mortgage payments on the property are $1,520 per month $666 of which
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!