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weeeeeb [17]
3 years ago
13

Following her 18th birthday, Madison began investing $41 at the end of each week in an account earning 5% per year. She plans to

continue making weekly investments until she turns 68. Instead, if she hadn't started investing until she turned 56, how much would she have had to invest each week in order to have the same retirement nest egg at age 68
Business
1 answer:
sweet [91]3 years ago
4 0

Answer:

Madison will invest during 40 years, since we are not told if the account capitalizes interest monthly, weekly or annually, I will assume the interests are capitalized weekly:

total number of payments = 40 x 52 = 2,080

weekly interest rate =5% / 52 = 0.09615%

future value annuity factor = [(1 + 0.09615%)²⁰⁸⁰ - 1 ] / 0.09615% = 6,637.2376

Madison will have $41 x 6,637.2376 = $272,126.74 by the time she is 68.

If instead she starts to save when she is 56, she will only make 12 x 52 = 624 deposits

we know the future value = $272,126.74

the future value annuity factor = [(1 + 0.09615%)⁶²⁴ - 1 ] / 0.09615% = 854.4573

weekly deposit = $272,126.74 / 854.4573 = $318.48

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3 years ago
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3 0
1 year ago
White Corporation, a closely held personal service corporation, has $150,000 of passive activity losses, $120,000 of active busi
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Answer:

correct option is a.$0

Explanation:

given data

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to find out  

how much passive activity loss can White Corporation deduct

solution

as per given we know that here white corporation is a Personal Service Corporation

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