All categories

3 years ago

Alex

Business

1 answer:

GaryK [48]3 years ago

5 0

Answer:

hello your question lacks some vital information hence I will make valid assumptions to aid the solution 

answer : $583333.33

Explanation:

22 yrs old

pre tax income = $35,000 per year

savings = $200/month

Determine how much you will need to retire at 67

lets assume : Interest rate = 6% per annum

annual withdrawable amount per year after retirement = $35,000

∴ amount to be saved up by 67 years = 35,000 / 6% = $583333.33

hence amount needed to retire at age 67

target amount = $583,333.33

interest rate = 6%

number of years = 67 - 22 = 45

savings per year needed = 583,333.33 / 45 = $12962.96

Note : saving $200 per month would not give the required amount needed to retire at age 67

The required monthly savings = 12962.96 / 12 = $1080.25

You might be interested in

Carolyn owes $9,620 on her Electronics Boutique credit card with a 16.4% interest rate. She owes $3,970 on her Miscellaneous Goo

KengaRu [80]

Answer:

377.50

Explanation:

6 0

3 years ago

Read 2 more answers

Assume that a company makes only three products: Product A, Product B, and Product C. Currently, the company uses a conventional

VikaD [51]

Answer:

Company A

Using the activity-based costing approach, the percent of the company’s total Material Handling activity cost that would be allocated to Product B is:

d. 33%

Explanation:

a) Data and Calculations:

Product A Product B Product C Total Use

Number of units produced 1,000 units 7,000 units 2,000 units 10,000

Direct labor hours per unit 2 hours 2 hours 2 hours 6

Number of setups 30 setups 50 setups 20 setups 100

Number of material moves 600 moves 400 moves 200 moves 1,200

Number of products 1 product 1 product 1 product 3

Product B usage of Material Handling Activity Cost:

Allocation Basis = Number of material moves

Product B material moves = 400

Total material moves = 1,200

Therefore, the percentage of Product B usage of material handling activity is:

= 400/1,200 * 100

= 33%

6 0

3 years ago

The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,146

gayaneshka [121]

Answer:

Net income for the period $

Fees earned 6,510

Wages (2,887)

Rent expenses (816)

Utility expenses (310)

Depreciation expenses (201)

Miscellaneous expenses (64)

Dividend paid (705)

Net income 1,527

Explanation:

Net income is the excess of fees earned over costs and dividends paid. Thus, we will deduct all the costs and dividend paid from fees earned so as to obtain net income.

5 0

3 years ago

Oakwood Primary Care Clinic is considering a capitation arrangement with a managed care organization in which the clinic would p

lutik1710 [3]

Answer:

5000

Explanation:

Oakwood Primary Care Clinic is considering a capitation arrangement with a managed care organization in which the clinic would provide services to 1,500 members at $100 per member per month. Variable costs are projected at $200 per clinic visit, and fixed costs for the agreement are $800,000. Breakeven point in volume of clinic visits is 5000.

6 0

3 years ago

A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed

monitta

Answer:

c. increases

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

The production possibility frontier is graph that shows the two combinations of goods that an economy can produce given its resocurces.

As the production of donuts increases, the amount of beers that would be forgone in order to increase production of donuts rises.

I hope my answer helps you

5 0

3 years ago