Joel invested $1,025 at the end of every month into an investment fund that wasearning interest at 4.75% compounded monthly. She stopped making regular depositsat the end of 9 years when the interest rate changed to 5.00% compounded quarterly.However, she let the money grow in this investment fund for the next 4 years.a. Calculate the accumulated balance in her investment fund at the end of 9 years.$0.00Round to the nearest centb. Calculate the accumulated balance in her investment fund at the end of 13 years.$0.00Round to the nearest centc. Calculate the amount of interest earned over the 13-year period.$0.00Round to the nearest cent

Future Value: It represents the future worth of the present amount of cash flows. It is computed…

Answered: a. Calculate the accumulated balance in…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 42P

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Carlos opens a dry cleaning store during the year. He invests 30,000 of his own money and borrows 60,000 from a local bank. He uses 40,000 of the loan to buy a building and the remaining 20,000 for equipment. During the first year, the store has a loss of 24,000. How much of the loss can Carlos deduct if the loan from the bank is nonrecourse? How much does Carlos have at risk at the end of the first year?
Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Samantha invested $575 at the end of every month in an investment fund that was earning interest at a rate of 4.20% compounded monthly. She stopped making regular deposits at the end of 9 years when the interest rate changed to 6.66% compounded quarterly. However, she let the money grow in this investment fund for the next 4 years. a. Calculate the accumulated balance in her investment fund at the end of 9 years. b. Calculate the accumulated balance in her investment fund at the end of 13 years. c. Calculate the total interest earned over the 13-year period.
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a. Calculate the accumulated balance in her investment fund at the end of 9 years. $0.00 Round to the nearest cent b. Calculate the accumulated balance in her investment fund at the end of 13 years. $0.00 Round to the nearest cent c. Calculate the amount of interest earned over the 13-year period.