Jerry is a 30 percent partner in the JJM Partnership when he sells his entire interest to Lucia for $82,750 cash. At the time of
1 answer:
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Answer:
$ 75131
Explanation:
Given:
Amount inherited = $ 300000
Present amount of annuity = $ 300000
Interest rate, i = 8% = 0.08
number of years, n = 5
Now,
the formula for the present amount of annuity is given as:
Present amount of annuity =
where,
P is the periodic payment
n is the number of years
now, on substituting the values, we get
$ 300000 =
or
$ 300000 = P × 3.993
or
P = $ 75131.48 ≈ $ 75131
hence, the amount he can withdraw is $ 75131
Answer:
option (C) 280%
Explanation:
Number of shares of stock X purchased = 100
Purchasing cost of share =
Selling cost of stocks = $24 per share
Brokerage paid = 2%
Now,
The total purchasing cost involved = + 2% of
= 612.5 + 0.02 × 612.5
= $624.75
also,
Total income from sales of stocks
= Total selling cost of shares - brokerage paid
= $24 × 100 - 2% of Total selling cost
= $2400 - ( 0.02 × $2400 )
= $2400 - $48
= $2,352
now,
The investor's percent gain on this investment =
=
=
= 276.47% ≈ 280%
Hence, the correct answer is option (C) 280%