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AfilCa [17]
3 years ago
14

At age 37 you start saving for retirement if your investment plan pays an APR of 6% and you want to have $.09 million when you r

etire in 28 years, how much should you deposit monthly?
Business
1 answer:
r-ruslan [8.4K]3 years ago
7 0

Answer:

Monthly deposit= $1,036.116

Explanation:

Giving the following information:

Future Value (FV)= $900,000

Number of periods= 28*12= 336 months

Interest rate (i)= 6% = 0.06/12= 0.005

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= {900,000*0.005) / [(1.005^336) - 1]

A= $1,036.116

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During 2018, Raines Umbrella Corp. had sales of $715,000. Cost of goods sold, administrative and selling expenses, and depreciat
Dima020 [189]

Answer:Net Income/ loss= -$37,100

Raine's operating cash flow= $174,000

Explanation:

Net income/loss for Raines Umbrella Corp In 2018

Sales                                                        $715,000

less:  Cost of goods sold                        -$446,000

Administrative and Selling expenses        -$95,000

 Depreciation                                              -$140,500

 EBIT                                                             $33,500

less: Interest                                                  $ 70,600

Net loss                                                          -$37,100

B) Raine's operating cash flow:

= EBIT + Depreciation - Taxes( Since a net loss was recorded by Raines, yhere would be no taxes  

= $33,500 + $140,500 - $0

= $174,000

7 0
3 years ago
The accountant at Coronado Company is figuring out the difference in income taxes the company will pay depending on the choice o
Anna11 [10]

Answer:

The difference in tax to be paid between the two methods is $455

Explanation:

In this question, we are asked to calculate the difference in tax for the LIFO and FIFO method.

The matter of importance here is that the tax rate is 35%. We proceed as follows:

For the FIFO income, the tax rate is 35% of 8,600 = 35/100 * 8600 = $3010

For the LIFO method, the tax rate is 35% of $7,300 = 35/100 * 7,300 = $2,555

The difference in tax that would be paid between the two methods is 3010-2555 = $455

7 0
3 years ago
Toby and Keith are planning to create and jointly own a company that will license their patented technology solely for royalties
Fantom [35]

Answer: Limited liability company

Explanation:

In such a structure the owners and the firm are considered separate. The owners in a LLC could not be held personally liable for the debts and liabilities of their company.

The companies have the limited liability feature of the corporations while the profit distribution method depicts partnership structure.

In the given case, Toby and Keith wants to distribute profit among them and also do not want to raise any outside capital. Also they want limited liability in their organisation.

Hence a Limited liability company is an appropriate choice for them.

3 0
3 years ago
DailyFinance.com reported one $40 share of Coca-Cola’s stock bought in 1919, with dividends reinvested, would be worth $9.8 mill
Natasha_Volkova [10]

Answer:

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Explanation:

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2 years ago
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Answer:

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