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mina [271]
3 years ago
15

Debra, age 51, is self-employed and has never made a lot of money. But, she has consistently saved $4632 per year into a traditi

onal IRA. Over the years, she has taken full advantage of the tax law and deducted each year’s contribution from her tax return. If Debra started saving at age 26 and has earned an average annual return of 5%, how much is the account worth today?
A. $619398.

B. $48556.

C. $23677.

D. $221072.
Business
1 answer:
KiRa [710]3 years ago
5 0

Answer:

D. $221072.

Explanation:

In this question, we use the future value formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $0

Rate of interest = 5%

NPER = 25 years

PMT = 4,632

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the answer would be $221,071.92  

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________differentiation is a business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived
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Support Department Cost Allocation-Direct Method Charlie's Wood Works produces wood products (e.g., cabinets, tables, picture fr
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Answer:

a. 56%

b. 62%

Explanation:

a. Janitorial costs are allocated based on square feet.

Assembly Department Square feet = 42,560

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Percentage of costs

= 42,560/ 76,000

= 56%

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Consider the following simple economy that produces only three​ goods: 2009​ (Base Year) 2017 Product Quantity Price Quantity Pr
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Answer:

The answer is $6680

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