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Answer:
The answer is C. Money markets.
Explanation:
- <u><em>The money market is a component of the economy which provides short-term funds. </em></u>
Answer:
Credit to Cash for $4,995 is correct
Explanation:
here is a complete question
has a gross salary for May of $7,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 21%. Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2 % and FICA-Medicare Tax of 1.45%. Round the final answer to the nearest dollar.) A. debit to Cash for $4,995 B. debit to FICA Tax Payable of $4,995 O C. debit to Employee Income Tax Payable of $4,995 D. credit to Cash for $4,995
The computation of the amount that becomes the part for accrual the employer payroll taxes is shown below:
Gross Pay $7,000
Less: Deductions
Federal Income tax $1,470 ($7000 × 21%)
FICA-OASDI tax $434 ($7000 × 6.2%)
FICA-Medicare tax $102 ($7,000 × 1.45%)
Total Deductions 2006
Net pay $4,995
Answer:
1. In the scenario where Interest rate is 6% and inflation rate is 4%; annual real return on the investment will be $0.5 or 0.5%;
2. In the scenario where Interest rate is 12% and inflation rate is 10%; annual real return on the investment will be -1 or -1%
Explanation:
1. In the scenario where Interest rate is 6% and inflation rate is 4%:
- Your before-tax interest income will be: 100 x 6% = $6
- Your after-tax interest income will be: 6 x (1-25%) = $4.5
- Your inflation cost will be: 100 x 4% = $4
- Your net annual real return will be: $4.5 - $4 = $0.5 or 0.5/100 = 0.5%
2. In the scenario where Interest rate is 12% and inflation rate is 10%; annual real return on the investment:
- Your before-tax interest income will be: 100 x 12% = $12
- Your after-tax interest income will be: 12 x (1-25%) = $9
- Your inflation cost will be: 100 x 10% = $10
- Your net annual real return will be: $9 - $10 = -$1 or -1/100 = -1%
<span>At the beginning of each of her four years in college, Miranda took out a new Stafford loan. Each loan had a principal of $5,500, an interest rate of 7.5% compounded monthly, and a duration of ten years. Miranda paid off each loan by making constant monthly payments, starting with when she graduated. All of the loans were subsidized. The total lifetime cost for Miranda to pay off her 4 loans is: $31,337.27</span>