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aev [14]
3 years ago
13

Joyce, age 40, and Sam, age 42, who have been married for seven years, are both active participants in qualified retirement plan

s. Their total AGI for 2018 is $130,000. Each is employed and earns a salary of $65,000. What are their combined deductible contributions to traditional IRAs?
a. $0b. $3,000c. $4,000d. $8,000
Business
1 answer:
vivado [14]3 years ago
4 0

Answer:

$0

Explanation:

Based on the information given we were been told that their total AGI which is fully known as ADJUSTED GROSS INCOME for the year 2018 was the amount of $130,000 in which the standard AGI for the year 2018 was the amount of $121,000 which means that their 2018 AGI of $130,000 exceed the standard 2018 AGI of $121,000 based on this the amount of their combined deductible contributions to traditional IRAs will be $0 had it been their AGI did not exceed the standard 2018 AGI they would have both contributed the amount of $11,000 ($5,500 each) to the traditional IRA which is fully known as INDIVIDUAL RETIREMENT ACCOUNT.

Therefore what are their combined deductible contributions to traditional IRAs will be is $0

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Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is cu
iragen [17]

Answer:

t=40.467 years≅40.5 years

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

Explanation:

In case of US:

Present Value=$56,000

Increase=r=1.5%=0.015

Future GDP=PV(1+r)^t

where:

t is time

Future GDP=56,000(1+0.015)^t

In case of China:

Present Value=$8,000

Increase=r=6.5%=0.065

Future GDP=PV(1+r)^t

where:

t is time

Future GDP=8,000(1+0.065)^t

We have to find time t when both countries have same future GDP:

(Future GDP)_{US}=(Future GDP)_{China}

56,000(1+0.015)^t=8,000(1+0.065)^t

Dividing equation by 8000:

7*(1+0.015)^t=(1+0.065)^t\\(\frac{1.065}{1.015})^t=7

Taking Natural log (ln) on both sides:

ln 7=t*ln\frac{213}{203} \\t=40.467 years

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

6 0
4 years ago
Is interest on loan an expense or a liability....Please help​
GREYUIT [131]

Answer:

expense

explanation :

when we're about loan we are talking about a business or a person who is taking a loan. in this case the person or the firm pay interest on the loan.

3 0
2 years ago
Internet service providers are an example of organizations that provide both products and services. true or false
astraxan [27]

The statement that internet service providers are capable of providing products and services is false.

  • Internet service providers cannot be an example of organizations that can provide both goods and services.
  • This is because, internet service providing organizations fall under the category of organizations that are especially known for only being able to provide services.
  • Some other organizations that produce services alone, also include commercial banks and consulting firms.
  • Therefore, the statement cannot be true.

Thus, from the above reasons it is clear that internet service providers can only provide services.

Learn more about Organizations that provide only services here:

brainly.com/question/27118899

#SPJ10

8 0
2 years ago
Diamond Company has three product lines, A, B, and C. The following financial information is available:
const2013 [10]

Answer:

e. Increase by $4,500.

Explanation:

<u>Analysis of the effect of discontinuing Product Line C</u>

Income :

Rent Income                                                    $6,000

Savings : Fixed Costs - Avoidable                 $3,000

Total Income                                                   $9,000

Costs :

Opportunity Cost - Contribution Margin       $4,500

Total Costs                                                      $4,500

Net Income (Loss)                                           $4,500

therefore,

By discontinuing Product Line C, operating income for the company will likely  Increase by $4,500

5 0
3 years ago
Compute the present value of a $100 investment made 6 months, 5 years, and 10 years from now at 4 percent interest. Instructions
sladkih [1.3K]

Answer:

Present value investment = $98.05

Explanation:

given data

present value = $100

time 1 = 6 months = \frac{6}{12}  = 0.5 year

time 2 = 5 years

time 3 = 10 years

interest rate = 4 % = 0.04

to find out

Present value investment in 6 month for the rate  4 percent

solution

we get here Present value investment by as

Present value investment = present value ÷ (1+r)^{t} ..............1

put here value and we get

Present value investment = \frac{100}{(1+0.04)^{0.5}}    

solve it we get

Present value investment = \frac{100}{1.0198}

Present value investment = $98.05

6 0
3 years ago
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