Answer:
Find attached
Explanation:
The present value of $97,000 per year after retirement for 35 years is computed thus:
=-pv(rate,nper,pmt,fv)
rate is the plan rate of return of 6.5%
nper is 35 years(years after retirement)
pmt is the amount required per year
fv is not applicable is taken as zero
=-pv(6.5%,35,97000,0)=$1,327,634.80
The amount needed in the account at retirement is the future value of the plan.
Regular yearly payment into the plan is =pmt
=pmt(rate,nper,-pv,fv)
=-pmt(6.5%,35,0,1327634.80)=$ 10,703.74
The percentage of income that must be contributed is found in the attached
Answer:
$1400 U
Explanation:
Total direct materials cost variance = (47,000 actual pounds × $1.20 actual cost per pound) − (50,000 standard pounds × $1.10 per pound) = $1,400 unfavorable
Answer:
The net worth (owners' equity) for this business is $2.2 million
Explanation:
Net worth: It is also known as owner's equity which is a difference between total assets and total assets.
In this question, we use the accounting equation which is used to balance the debit and credit side of the balance sheet items.
So, the accounting equation is
Total Assets = Total Liabilities + Owner's Equity
where,
Company assets are $3.5 million
And, liabilities is $1.3 million
Now, apply the above equation to find out the value of the owner's equity
So, owner equity would be equals to
= $3.5 million - $1.3 million
= $2.2 million
Hence, the net worth (owners' equity) for this business is $2.2 million
Hey there!
<span>Which of the following is NOT one of the mentioned ways high school differs from higher learning?
Answer: </span>
<span>Amount of support and guidance
Hope this helps
Have a great day (:
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