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2 years ago

You want to be a millionaire when you retire in 40 years.

Business

1 answer:

Sedaia [141]2 years ago

7 0

Answer:

a. FV = $1,000,000

rate = 9.7%

n = 40 periods

FVIFA = [(1 + 0.097)⁴⁰ - 1] / 0.097 = 407.9960231

annual savings = $1,000,000 / 407.9960231 = $2,451.00

b. FV = $1,000,000

rate = 9.7%

n = 30 periods

FVIFA = [(1 + 0.097)³⁰ - 1] / 0.097 = 155.4306295

annual savings = $1,000,000 / 155.4306295 = $6,433.74

FV = $1,000,000

rate = 9.7%

n = 20 periods

FVIFA = [(1 + 0.097)²⁰ - 1] / 0.097 = 55.35978429

annual savings = $1,000,000 / 55.35978429 = $18,063.65

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On July 1, 20x1, Fox Co. purchased as a held-to-maturity investment $5,000,000 of Owl, Inc.'s 8% bonds for $4,580,000, including

Dimas [21]

Answer:

The amount fox should report on Dec 31,20x1 = $4,556,500

Explanation:

The carrying amount of bonds = $4,580,000 - $50,000

The carrying amount of bonds = $4,530,000

Amortization of discount from july 1 to dec 31 (6 months):

Interest Revenue = $4,530,000* 10% * 6/12

Interest Revenue= $226500

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Interest Receivable = $200000

Discount amortized =Interest Revenue - Interest Receivable

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The amount fox should report on Dec 31,20x1 = $4,530,000 + $26500

The amount fox should report on Dec 31,20x1 = $4,556,500

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3 years ago

A speaker who thinks uncritically looks for good reasons to accept or reject others' opinions.

liq [111]

That speaker tends to <span>closed-minded and impulsive.
The most important things for that speaker is most likely not finding the best outcome from the people around them that could be done if they just work together , but rather to become the center of attention by diminishing other people's value (putting them down)</span>

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2 years ago

Which economic policy was most successful during the Great Depression?

labwork [276]

The economic policy that was most successful during the Great Depression is (D) increased government spending. It is a common view among economists that government spending on the war at least accelerated from the recovery of the Great Depression. Well, as always, other think that it didn't play a vital role in recovery.

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3 years ago

Exercise 4-15A Calculate net cash flows (LO4-7) Below are several transactions for Meyers Corporation for 2021. Issue common sto

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Answer:

$12,600

Explanation:

Particulars Amount

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d. Pay utilities on building -$500

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2 years ago

George is going shopping for a new car to replace his old one. Which of these costs would be

uranmaximum [27]

The cost that would relevant in the choice of a new car is the the cost to operate the new vehicles.

<h3>What cost would be relevant?</h3>

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2 years ago