Answer:
Jane's Social security = $535.71
Josh's Social security = $964.29
Explanation:
Jane's Social security = $500
Josh's Social security = $500 x 180%
Josh's Social security = $900
Suppose In order to have $1,500 per month retirement income
Jane's Social security = X
Josh's Social security = X x 180% = 1.8X
Total Income = X + 1.8X
$1,500 = X + 1.8X
$1,500 = 2.8X
$1,500 / 2.8 = X
X = 535.71
So
Jane's Social security = X = $535.71
Josh's Social security = 1.8 x 535.71 = $964.29
Answer:
$1,220.55
Explanation:
We use the Present value formula to find out the current price of the bonds. The calculation is presented on the excel spreadsheet
Given that,
Future value = $1,000
Rate of interest = 5.5%
NPER = 19 years
PMT = $1,000 × 7.4% = $74
The formula is shown below:
= -PV(Rate,NPER,PMT,FV,type)
So, after solving this, the current price of the bond is $1,220.55
Answer: the correct answer is D
Explanation:
Answer:
E. $2,688.77
Explanation:
We need to calculate the PMT of an ordinary annuity at 6%
PV 402,000
time:
85 years - 62 years = 23 years of retirement
23 years x 12 months per year = 276 months
rate: 6% annual rate we must divide over 12 months to convert into monthly: 0.06/12 = 0.005
C $ 2,688.766
<em>She can withdraw 2,688.76 per month</em>
Answer:
The correct answer is letter "C": Funds that arise out of normal business operations from its suppliers, employees, and the government, and they include immediate increases in accounts payable, accrued wages, and accrued taxes.
Explanation:
Spontaneous funds are all those incomes that a company receives without expecting them. The money can be received from different internal and external sources but they imply obligations. It means taxes are likely to be deducted after reporting the income in the firm's accounting books.