Legal reserve requirements are changed ____________

Inessa05 [86]

Answer:

1. Lulu started saving $200/month in a 401(k) earning 6% interest compounded monthly when she was 45 years old. How much will be in her account when she retires at age 65?

Lulu made 12 x 20 = 240 payments

to calculate how much she earned we can use the future value of ordinary annuity formula:

FV annuity = payment x {[(1 + r)ⁿ - 1] / i} = $200 x {[(1 + 0.5%)²⁴⁰ - 1] / 0.5%} = $200 x 462.04 = $92,408.18

2. How much money did Lulu deposit into her account over the course of the 20 years?

240 x $200 = $48,000

3. What dollar amount of interest did her account earn?

$92,408.18 - $48,000 = $44,408.18

4. Murphy started putting $100/month into his 401(k) earning 6% APR when he was 25 years old. How much will be in his account when he retires at age 65, if interest is compounded monthly?

480 payments, again we use the same formula as in (1):

FV annuity = $100 x {[(1 + 0.5%)⁴⁸⁰ - 1] / 0.5%} = $100 x 1,991.49 = $199,149.07

5. How much money did Murphy deposit into his account over the course of the 40 years?

480 x $100 = $48,000

6. What dollar amount of interest did his account earn?

$199,149.07 - $48,000 = $151,149.07

7. Murphy's account earned how much more interest than Lulu's account?

$151,149.07 - $44,408.18 = $106,740.89

7 0

4 years ago

An example of a stressor at the group level is

Marta_Voda [28]

An example of a stressor at the group level is an excessive job demands. The Option A is correct.

<h3>What is a stressor in group?</h3>

Also known as an interpersonal demands, means the pressures created by other employees. A group related stressors does include some factors like conflicts, poor communication, unpleasant relationship as well as fear of being ostracized from the group as a valued member.

While working with a superior, peers or subordinates with whom one does not get along can be a constant source of stress. Some people can effectively deal with conflicts and misunderstandings and resolve issues as they arise. Many, some find it difficult to do this and build internal stresses for themselves.

The lack of social support from colleagues and poor interpersonal relationships can cause considerable stress as, most especially among employees with a high social need. Sometimes, an individuals try to avoid these stresses by remaining absent as frequently as possible and even start looking for new jobs.

Read more about stressor

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5 0

1 year ago

The following information was used by the Long Corporation to prepare a cash budget for April: Cash balance beginning of April $

olya-2409 [2.1K]

Answer:

The budgeted ending balance of cash for the month of April is $36,000

Explanation:

Ending balance of cash = Cash balance at beginning of April + Expected cash receipt - (Salary paid + Material purchases + Other expenses)

= $16,000 + $272,000 - ($62,000 + $94,000 + $96,000)

= $288,000 - $252,000

= $36,000

Note: Depreciation is non- cash expense so it will not be considered while computing the cash balance at the end of the month.

3 0

4 years ago

Which one of the following is not a benefit of budgeting?

MariettaO [177]

Answer: Option C

Explanation: Budgeting refers to the process under which an organisation tries to anticipate how much of their resources will be procured and used in the future for effectively complete their operations.

Budgeting is usually done by the accountants on the basis of past experiences and future expectations. Therefore, they can be seen as reliable but does not guarantee any kind of success as future is not certain.

5 0

3 years ago

What is federal income tax?

katrin [286]

First off if you ever look at someone's paycheck it has a spot on there that tells you how much is taken away. There are so many different things associated with federal income tax. Social Security, Medicare, and Medicaid are all taken out due to Federal Income Tax. Social Security is suppose to pay you back for all they have taken once you retire.

8 0

3 years ago

Read 2 more answers

Legal reserve requirements are changed _____________. (lo2)