Answer:
Annual deposit= $26,344.36
Explanation:
Giving the following information:
The interest rate is 7 percent per year.
He wants to have enough money to provide him with $3,000 of monthly income for 30 years. To date, he has saved nothing, but he still has 20 years until he retires.
First, we need to calculate the total amount of money required:
Final value= 3,000* (30*12)= $1,080,000
Now, we can calculate the annual deposit:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
FV= 1,080,000
i= 0.07
n= 20
A= (1,080,000*0.07) / [(1.07^20) - 1]= $26,344.36
Answer: c. A nonagency relationship with everyone in the office.
Explanation:
For an agency relationship to exist in the eyes of the law, there must be a contract with a written designated agency relationship between the client and Meramac Realty.
With no such contract in existence, the law recognizes no agency relationship between Meramac and any of its affiliates with the client. There is therefore a non-agency relationship with everyone in Meramac.
Answer:
<em>the meaning of taxation is the levying of tax.</em>
Answer:
$53,700
Explanation:
Direct manufacturing cost = (Direct material per unit + Direct labor per unit) * Units produced
=($5.20 + $3.75) * 6,000 units
=$8.95 * 6,000
=$53,700
The total amount of direct manufacturing cost incurred is closest to $53,700
