The formula of the future value of an annuity ordinary is
Fv=pmt [(1+r)^(n)-1)÷r]
Fv future value?
PMT 2400
R 0.08
T 32 years
Fv=2,400×((1+0.08)^(32)−1)÷(0.08)
Fv=322,112.49
Now deducte 28% the tax bracket from the amount we found
annual tax 2,400×0.28
=672 and tax over 32 years is 672×32
=21,504. So the effective value of Ashton's Roth IRA at retirement is 322,112.49−21,504=300,608.49
Answer:
The 400 coupon is 80 cents better
Step-by-step explanation:
First find the sale price with the coupon
744 - 400 = 344
Now find the sale price with the discount
100-55 = 45
We will pay 45% of the original price
744*45%
744*.45
344.80
Answer:
p=11
Step-by-step explanation:
2(p + 1) = 24
Divide each side by 2
2/2(p + 1) = 24/2
p+1 = 12
Subtract 1 from each side
p+1-1 = 12-1
p =11
it would be 6 3/8 because the common factor is 5