Solution :
Given :
James needs $ 1,000,000 after 15 years.
His IRA deposit is $ 200,000 and is earning at the rate of 8% per annum.
Maturity value of $200,000 after 15 years =
= $ 634,434.
Balance fund needed after 15 years = 1,000,000 - 634,434
= $ 365,566
Therefore, the future value of the annuity is :
Here, FV = future annuity value = 365,566
A = periodical investment
k = interest rate = 8%
n = period = 15 years
∴
A = 13,464
Thus, James needs to save $ 13,464 each year end to reach his target.
The Board of Governors, also known as the Federal Reserve Board, is the national component of the Federal Reserve System. The board consists of the seven governors, appointed by the president and confirmed by the Senate. Governors serve 14-year, staggered terms to ensure stability and continuity over time. The chairman and vice-chairman are appointed to four-year terms and may be reappointed subject to term limitations.
<span>Among the responsibilities of the Board of Governors are to guide monetary policy action, to analyze domestic and international economic and financial conditions, and to lead committees that study current issues, such as consumer banking laws and electronic commerce.hope this helped! :)</span>
If Tom were married and his spouse was not working for pay, his 2021 taxable income would be a maximum 15% rate (20% in the case of high income taxpayers. Read below about who an income tax payer.
<h3>Who is an income taxpayer?</h3>
A taxpayer is an individual or corporation who pay taxes annually on their earning as per the provisions of the Income Tax Act. Once you file income tax returns and disclose your earnings, it becomes legal.
Therefore, the correct answer is as given above
learn more about a taxpayer: brainly.com/question/14582132
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The document a caterer uses to stipulate the terms, conditions, and contents of the services he or she will provide each client is called the A.) CLIENT AGREEMENT.
Client Agreement is a contract between the client and the contractor. Both parties will sign on the written client agreement contract and both are held accountable on the terms and conditions specified in the contract.