1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ra1l [238]
2 years ago
13

Jack is a 74-year-old, single taxpayer whose income consists of $10,000 in wages and $31,000 in social security benefits. The ma

ximum amount he can contribute to a Roth IRA for 2019 is: A) $0 B) $6,000 C) $7,000 D) $10,000
Business
1 answer:
Lapatulllka [165]2 years ago
4 0

Based on his age and income, the maximum that Jack is able to contribute to a Roth IRA in 2019 is <u>C. 7,000.</u>

In the year 2019, tax laws were such that:

  • $6,000 was the maximum to be contributed to Roth IRA.
  • $1,000 could be contributed in excess by those above the age of 50.

As Jack is above the age of 50, he can contribute an extra $1,000 over the limit which puts him at:

= 6,000 + 1,000

= $7,000

In conclusion, Jack can contribute a maximum of $7,000.

Find out more on Roth IRA at brainly.com/question/1300867.

You might be interested in
Sawyer Industries began business at the start of the current year. The company planned to produce 25,000 units, and actual produ
valentina_108 [34]

Answer:

$208,000

Explanation:

The computation of the absorption-costing income is shown below:

As we know that

Net income = Gross profit - variable expense - fixed expense

where,

Gross profit is

= Sales - cost of goods sold

= (22000 units at $30) - (22,000 units at $14)

= $660,000 - $308,000

=  $352,000

The $14 come from

= 8 + 150,000 ÷ 25,000

= 8 + 6

= 14

Now the variable expense is

= 22000 at $2

= $44,000

And, the fixed expense is $100,000

So, the net income is

= $352,000 - $44,000 - $100,000

= $208,000

6 0
2 years ago
What is a standard is a
Kobotan [32]

Answer:

is the pattern that follows any of the variables that determine the benefit of an economic activity

a standard is the reference level of some factor of production

7 0
3 years ago
B) A manufacturing unit A makes 15 colour television
Fed [463]

<em> 7*|15 80 | =|105 560|</em>

<em> 7*|15 80 | =|105 560||40 100| |280 700|</em>

<em> 7*|15 80 | =|105 560||40 100| |280 700|HERE'S YOUR ANSWER </em>

<em> 7*|15 80 | =|105 560||40 100| |280 700|HERE'S YOUR ANSWER ◌⑅⃝●♡⋆♡MICKZMINNZ♡⋆♡●⑅◌</em>

8 0
2 years ago
You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for you
kati45 [8]

Answer:

The answer is 16 years.

Explanation:

The formula for calculating the value of an investment that is compounded annually is given by:

V(n)=(1+R)^nP

Where:

n is the number of years the investment is compounded,

R is the annual interest rate,

P is the principal investment.

We know the following:

25000=(1+0.06)^n \times 10000

And we want to clear the value <em>n</em> from the equation.

The problem can be resolved as follows.

<u>First step:</u> divide each member of the equation by 10,000:

\frac{ 25000}{10000}=(1+0.06)^n \times \frac{ 10000}{10000}

2.5=(1.06)^n

<u>Second step:</u> apply logarithms to both members of the equation:

log(2.5)=log (1.06)^n

<u>Third step:</u> apply the logarithmic property logA^n=n.logA in the second member of the equation:

log(2.5)=n.log (1.06)

Fourth step: divide both members of the equation by log1.06

\frac{log(2.50)}{log (1.06)} =n

n= 15.7252

We can round up the number and conclude that it will take 16 years for $10,000 invested today in bonds that pay 6% interest compounded annually, to grow to $25,000.

6 0
3 years ago
Which type of organization uses the form 1065 and schedule k-1?
nekit [7.7K]
<span>Organizations known as Partnerships use the Form 1065 and Schedule K-1. A Partnership is an agreement between two partners to agree to work together to benefit each others interest. These organizations of Partnerships may be between individuals, governments, schools, etc.</span>
6 0
3 years ago
Other questions:
  • 2. On January ​1, Alamo Cranes purchased a crane for $ 140,000. Alamo expects the crane to remain useful for six years ​(1,000,0
    13·1 answer
  • What are the two deadly sins of human relations​
    9·1 answer
  • A car dealer carries out the following calculations. List price $ 5,368.00 Options $ 1,625.00 Destination charges $ 200.00 Subto
    14·1 answer
  • Electronic media have changed the way employers select qualified candidates. Applicant tracking systems (ATS) are often the firs
    9·1 answer
  • What problems might robert encounter in comparing these companies to one another on the basis of their​ ratios? ​(select all the
    11·1 answer
  • The last line in a business letter is the _______.<br><br> Help please
    10·1 answer
  • Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available: Qu
    7·1 answer
  • Sheridan Company assigns $4570000 of its accounts receivables as collateral for a $2.94 million loan with a bank. The bank asses
    15·1 answer
  • identify each point as supporting either matthew desmond’s contention that eviction can cause poverty or the alternative argumen
    8·1 answer
  • A marketing strategy that enhances the shopping experience for experiential shoppers is called ________.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!