Answer:
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Answer:
Total deduction 2,443.21
Explanation:
8,288
x 6.20% Sccial Security 513.856
x 1.45% Medicate 120.176
x 6.20% FUTA&SUTA (for 7,000) 434
Income tax witheld 1,375.17
Total deduction 2,443.21
We will multiply his taxable wages for period by the tax rate.
We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288
Use this formula:
A= P(1+rt),
A is the final investment amount (4424.50x10)
P is the principal amount (25,000)
r is the rate of interest (annual)
t is the time period (10)
If A= P(1+rt),
then (1+rt) = A/P.
(1+r(10)=( 44,245)/25,000
10r=1.7698-1
r=.7698/10
<span>r=.07698 or 7.698%</span>
Letter of credit that can be split up between many suppliers, each able to present their own documents for payment and allowing the trader to take his profits from the balance of the credit, is called Transferable Letter of Credit
.
Explanation:
Transferable Letter of Credit is a credit document in which the party can transfer the credit in full or partial to another beneficiary.
A transferable credit letter that enables a receiver to further pass all or part of the payment to another supplier in the chain or to some other receiver. This usually occurs when the recipient is merely a conduit to the actual supplier. Such LC allows the beneficiary to have their records, but to further pass the credit.
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