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LUCKY_DIMON [66]

3 years ago

12

Trent is 25 years old and works for a company that matches his 401(k) contribution up to 5%. The interest rate for his 401(k) is

7.3%. If he puts away 10% of his $32,000 salary every year, what would the total of his 401(k) be in 10 years? Round your answer to the nearest cent.

1 answer:

Tpy6a [65]3 years ago

7 0

Answer:

The answer is A.

Explanation:

Just took test

You might be interested in

The gross domestic product (GDP) of the United States is defined as the market value of allfinal goods and services produced wit

Rainbow [258]

Answer:

Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 5, 2018.

b. An elementary school student buys the chocolate bar on December 24..

c. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 9, 2018. It sells the car at a dealership in San Diego on February 24, 2018.

d. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2018. Athleticus imports the pair of sneakers into the United States on May 21, 2018.

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.

Items not included in the calculation off GDP includes:

1. services not rendered to oneself

2. Activities not reported to the government

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

The accountant's work would be included in 2019's GDP

The chocolate purchase would be included in GDP as part of consumption expenditure

Tire is an intermediate good in this question and would not be included in GDP

The purchase of the shoe from Vietnam would have no effect on GDP because it decreases net export

4 0

3 years ago

Under the double-entry system of accounting, a debit is always a negative entry.

mrs_skeptik [129]

It is a false statement that a debit is always a negative entry under the double-entry system of accounting,

<h3>What is the double-entry system?</h3>

In accounting, this refers to the system for recording transactions based on recording increases and decreases in accounts so that debits equal credits.

Hence, the double-entry system requires that each transaction must be recorded in at least two different accounts.

Read more about double-entry system

brainly.com/question/2707498

#SPJ1

8 0

1 year ago

On January 1, Year 1, Greenfield, Inc. issues $100,000 of 9% bonds maturing in 10 years when the market rate of interest is 8%.

ELEN [110]

Answer:

When using a financial calculator to compute the issue price of the bonds, the applicable periodic interest rate ("I") is 3.923%

Explanation:

Hi, first, the discount interest rate that you have to choose is 8%, because 9% is the coupon rate (which in our case would be 9%/2=4.5% and this is used only to find the amount to be paid semi-annually).

Now we know we have to choose 8%, but this is an effective rate (I know this is an effective rate because no units were mentioned), and by definition it is a periodic rate, but it is not the rate that we need since the payments are going to be made in a semi-annual way, therefore we need to use the following equation.

$r(semi-annual)=[1+r(annual)]^{\frac{1}{2} } -1$

So, everything should look like this.

$r(semi-annual)=[1+0.08]^{\frac{1}{2} } -1=0.03923$

Therefore, the periodic interest that yuo have to use to calculate the price of the bond is 3.923%

Best of luck.

8 0

3 years ago

Each day you have $5 for lunch. Today, you decided to save $2

prisoha [69]

Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>

<u>to save and store the purchasing power</u>

Explanation:

The term money can be defined as a thing that serves as

A medium of exchange which is usually financial in nature.
It is used by the borrower to repay back to the lender-used to repay the debt.
It is used as an unit of accounting to measure your income and expenditure.
It is used to store the value of money -in other words used to save the purchasing power of an individual

Thus we can say that ,

Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>

<u>to save and store the purchasing power</u>

8 0

3 years ago

5) Scanlin, Inc. is considering a project that will result in initial aftertax cash savings of $2.1 million at the end of the fi

rewona [7]

Answer:

The PV of future cash flow is $22,925,764, therefore the company should take on the project

Explanation:

In order to know if the company should take on the project we have to calculate the PV of future cash flow as follows:

PV of future cash flow=<u> D1 </u>

RE-g

To calculate this formula we requre to calculate the WACC and the discount rate as follows:

WACC=(1.00/1.80×0.11)+0+(0.80/1.80×0.046)

WACC=0.0611+0+0.02044

WACC=0.081556

WACC=8.16%

After having calculated the WACC we can calculate the project discount rate as follows:

project discount rate=WACC + Additional risk factor

=8.16%+3%

=11.16%

Therefore, PV of future cash flow= <u>$2,100,000</u>

0.1116-0.02

PV of future cash flow= <u>$2,100,000</u>

0.0916

PV of future cash flow=$22,925,764

The PV of future cash flow is $22,925,764, therefore the company should take on the project

4 0

3 years ago