ndmded Suppose you are paid $3,000 per month and your employer's 401(k) matches your contrībutions by 10% up to a maximum of 15% of your pay. Assuming you max-out your retirement savings and you work for 25 years, how much will the 401(k) be worth when you retire (if you can get an APR of 8% during your work years)? If you are taxed at a rate of 27%, then how much will you have when you retire? Round all answers to 2 decimal places. Before taxes retirement amountS Number After taxes retirement amount s Number
Q: How much would you have (to the nearest dollar) when you retire if the account pays 3% compounded…
A: Information Provided: Deposits annually = $8386.75 Term = 40 years (65-25) Interest rate = 3%…
Q: uit buying vendor coffee for one year $4,483.97 and decided to contribute $2,400 (you saved $200 per…
A: The value of the money at retirement is the future value of the savings.
Q: suppose you put $1500 into your IRA this year. You do not make any additional contributions to the…
A: given, pv = $1500 r=10.5% n = 42 years
Q: Assume that you begin saving 3% of your total income in an employer-provided retirement plan at…
A: The savings of the employee are increasing by fix rate of 2% each year, while the income is…
Q: Assume you put $200 per month into a retirement account for 14 years, and the account has an APR of…
A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…
Q: How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per…
A: given, yearly deposit = $40,000 r = 12% FV = $1000,000 Beginning of the year deposit
Q: Felix Jones, a recent engineering graduate, expects a starting salary of ₱35,000 per year. His…
A: Annual Salary in Year 1 = 35,000 Annual Growth = 5% Interest Rate = 6% Time Period = 5 years…
Q: Round final answers to the nearest penny as needed. 1. Suppose you are paid $2400 per month and your…
A: The future value of the retirement savings will depend upon the monthly savings, the monthly rate,…
Q: You choose to invest $2,985 income tax refund check (rather than spend it) in an account earning 5%…
A: Formula:
Q: 2) A retiree invests $5,000 in a savings plan that pays 7% per year. What will the account balance…
A: The account balance at the end of the year can be calculated with the help of future value function…
Q: 1. Assume you deposit $3,000 today, and $300 at the end of each year, in an account earning 4% per…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 2. You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the…
A: We will make use of the excel function NPER to get this answer. This function returns the number of…
Q: Suppose that Jerry's 401(k) will have an average APR of 8% for 40 years. Assume both he and his…
A: Investments made by investors earn returns in the form of interest. The accumulated value of the…
Q: John already has $55,600 today in his savings account earning 5.5% compounded semiannually. The…
A: Here,
Q: You are expecting to retire in 28-years and you want to retire with $10,000,000. How much you must…
A: Current balance is $122,000 Interest rate is 8% Final Corpus should be $10,000,000(Future Value)…
Q: Suppose that between the ages of 22 and 30, you contribute $2000 per year to a 401(k) and your…
A: Future value represents the value of the investment in the future period of time.
Q: Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each…
A: FV is the future worth of cash flows that have occurred in the past or present.
Q: Suppose you are paid $2,000 per month and your employer's 40100 matches your contributions by 10% up…
A: Here, Monthly Pay is $2,000 Maximum Contribution in 401K is 15% of Monthly pay Period of working is…
Q: 0% match on your investment to a 401k retirement plan. If you decide to contribute a monthly amount…
A: The given problem can be solved using FV function in excel. FV function computes amount balance in…
Q: 1. Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50%…
A: The question is based on the calculation of future value of deposit made in retirement account…
Q: An individual earns an extra $2000 each year and places this money at the end of each year into an…
A: When any regular payment is made like paying rent for the apartment or interest on the bond is…
Q: 2. An employee plans on working and contributing to his retirement account monthly for 32 years and…
A: Annuity refers to series of equalized payments that are received or paid either at start or end of…
Q: Your employer automatically puts 10 percent of your salary into a 401(k) retirement account each…
A: If the amount of contribution incurred by a person increases, then it is known as growing annuity.…
Q: Your employer offers a 401(k) plan with a 16% match, and you set a goal of retiring in 31 years with…
A: 401(k) is a type of retirement plan which allows investor to accumulate funds for retirement by…
Q: a. Suppose that between the ages of 22 and 36, you contribute $8000 per year to a 401(k) and your…
A: According to the question, fixed amount is deposited every year. So it’s the question of annuity.…
Q: số thất they can thên make quarteriy An Individuali wants to establish an annulty for retirement…
A: Given Information : Quarterly withdrawals = $5,000 Interest rate = 12% compounded quarterly Deposit…
Q: You choose to invest your $3,435 income tax refund check (rather than spend it) in an account…
A: Investment (PV) = $3,435 Interest rate (r) = 6% Period (t) = 30 Years
Q: Your client's 401K account has an initial balance of $6,900 and has monthly contributions of $500.…
A: Future value is the value of an asset in the future. Future value estimation is very important for a…
Q: Compute the annual interest, total interest and the amount to be received or paid at the end of the…
A: Simple interest is computed by multiplying principal with rate of interest and no. of years. SI = A…
Q: Bob wants $300,000 in his retirement account when he retires in 30 years. How much does he need to…
A: This question can be answered in light of future value of annuity. Annuity is a payment of equal…
Q: Lee wants to know how much he will have available to spend on his trip to Costa Rica in 2 years if…
A: The amount available to spend is calculated as future value of account.
Q: Suppose that you’d like to retire in 40 years and you want to have a future value of $ 1000000 in a…
A: Annuity(monthly instalment) is calculated by annuity from future value formula: Annuity from future…
Q: Suppose that your retirement benefits during your first year of retirement are $50000. Assume that…
A: The cost of living is defined as the amount of money needed to cover the expenses of day-to-day…
Q: Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50% up…
A: The 401k contributions are the contribution made by the employee and employer for the retirement of…
Q: You want to begin saving for your retirement. You plan to contribute $12,000 to the account at the…
A:
Q: You choose to invest your $3,110 income tax refund check (rather than spend it!) in an account…
A: Future Value(FV) is worth of current amount at future time that is computed by compounding that…
Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…
A: Interest amount = Principal * Rate / 100 Or, Principal = Interest amount / Rate * 100
Q: felix jones, a recent engineering graduate, expects a starting salary of $35,000 per year. his…
A: Present value is defined as the current value of the future sum of funds or the cash flows stream at…
Q: how much would you have for retirement if you could invest these savings at 5% compounded annually…
A: Future Value = Present Value x (1 + r)^n Here, Future Value = Amount on Retirement Present Value =…
Q: our company’s pension plan earns 4.3 % interest per year, compounded quarterly. a) You…
A: In the first part, the Present Value of the payments is to be computed. In the second part , the…
Q: 1. Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50%…
A: Annuity refers to series of equalized payments that are paid or received at start or ending of…
Q: A retired employee accumulated an amount of P1.5 M on his retirement account. Instead of taking as…
A: The present value is the amount of money that would be needed today to achieve those future cash…
Q: Suppose you invest $25 per week into an account that earns 2% compounded weekly. You make the…
A:
Q: AN EMPLOYEE IS ABOUT TO RECEIVE THE SUM OF P300.00 AT THE END OF EACH YEAR FOR 5 YEARS. ONE YEAR…
A: Annual receipt =P 300.00 Number of annual = 5 Years Annual interest rate = 6%
Q: a. Suppose that between the ages of 22 and 32, you contribute $7000 per year to a 401(k) and your…
A: The future value function or concept can be used to determine the future value of a present sum or…
Q: Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each…
A: The series of payments discussed here is a form of annuity with growth.
Q: a. Suppose that between the ages of 22 and 30, you contribute $7000 per year to a 401(k) and your…
A: The question is based on the concept of calculation of future value of annual investment in form of…
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- Auditing || fall20 Dashboard My courses ACCT4141_iram_fall20 WEEK 7: 25 OCTOBER - 31 OCTOBER Case study 2 Separate groups: 5 My Submissions Case 2 Title Start Date Due Date Post Date Marks Available Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100 Summary: On Chapters 9, 10, and 11: The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football. YuRaeKa has a detailed constitution[1] which explains how the charity’s income can be spent. The constitution also notes that administration expenditure cannot exceed 10% of income in any year. The charity’s income is derived wholly from voluntary donations. Sources of donations include: (i) Cash collected by volunteers asking the public for donations in shopping areas, (ii) Cheques sent to the charity’s head office, (iii) Donations…Payroll Accounting Class (2301-900) Cengage - eBook Bieg/Toland's Payroll Accounting (2021, 31th Edition) Chapter 2 - Computing Wages and Salaries Chapter 2 - Continuing Problem 2B (Onley Company, Excel) I need help finishing the Total Amount (last fourcells) for Regular Earnings and I need all four columns for OT Earnings I will need the formula for the Amount and Total Earnings columns (example: =40*19.5) below I have attached the homework assignment and the information givenACCY 6833 FALL 2015 QUESTION # 1: Eastern and Western Universities offer executive training courses to corporate clients. Eastern pays its instructors $5,985 per course taught. Western pays its instructors $285 per student enrolled in the class. Both universities charge executives a $370 tuition fee per course attended. Part A. Prepare income statements for Eastern and Western, assuming that 21 students attend a course. University Eastern Western Tuition revenue $ $ Total cost of instruction Net income (loss) $ $ Part B Eastern University embarks on a strategy to entice students from Western University by lowering its tuition to $200 per course. Prepare an income statement for Eastern, assuming that the university is successful and enrolls 42 students in its course. University Eastern Tuition revenue $ Total cost of instruction (fixed) Net income (loss) $ Part C. Western University embarks on a strategy to entice students from Eastern University by lowering its tuition…
- Qsnhu login - Search Do Homework-3-1 M X X Home X TeMyLab Finance Pearso X P Introduction: The Time X S C A G Sign in https://mylab.pearson.com/Student/PlayerHomework.aspx?homeworkld=623722542&questionid=1&flushe... Shonda Curry 05/23/22 9:51 PM FIN-320-X5089 Principles of Finance 22EW5 = Homework: 3-1 MyFinanceLab Assignment Question 9, P5-18 (similar to) Save HW Score: 42%, 21 of 50 points O Points: 0 of 4 > (Related to Checkpoint 5.5) (Solving for n) Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new $320,000 Rolls-Royce Phantom. Jack currently has $37490 that he may invest. He has found a mutual fund with an expected annual return of 6 percent in which he will place the money. How long will it take Jack to win Jill's hand in marriage? Ignore taxes and inflation. The number of years it will take for Jack to win Jill's hand in marriage is years. (Round to one decimal place.)Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! Tix Total Users 15,500 22,100 37,600 Revenues $2,000,000 $2,080,000 $4,080,000 Engineering hours 10,4000 8,400 18,800 Engineering cost $ 881,000 $ 999,000 $1,880,000 Administrative costs…Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 15,500 22,100 37,600 Revenues $ 2,000,000 $ 2,080,000 $ 4,080,000 Engineering hours 10,400 8,400 18,800 Engineering cost $ 881,000 $ 999,000 $ 1,880,000 Administrative costs $ 1,504,000 The company is considering using a two-stage cost allocation system and wants to assess the effects on reported product profits. The company is considering using Engineering Hours and Users as the allocation base. Additional information follows. Toot! TiX Total Engineering hours 10,400 8,400 18,800 Users 15,500 22,100 37,600 Engineering-hour related administrative cost $ 199,280 User-related…
- You are assigned as the financial advisor of the would-be entrepreneur James Udderlie. Write a 100-wordreport of the possibilities of James getting a loan for hisnew business.Type your report below (you may attach tables /appendices / calculations as you see fit). Be mindful ofthe word limit. Do not send PDF document formatreport. You may like to consider some template toframe your answer e.g., 5 "C" (condition / collateral /capacity / character/ capital; 4 Ps (Price / Product /Promotion / Place); or SWOT (Strength / Weakness /Opportunity / Threat).Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 10,700 18,100 28,800 Revenues $ 1,600,000 $ 1,440,000 $ 3,040,000 Engineering hours 8,200 6,200 14,400 Engineering cost $ 516,500 $ 635,500 $ 1,152,000 Administrative costs $ 921,600 Required: Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the number of usersto allocate administrative costs. Based on the rates computed in requirement (a), what is the profit for each service?(Learning Objective 3: Record note payable transactions) Dean Sales Companycompleted the following note payable transactions:2018Jul Purchased delivery truck costing $58,000 by issuing aone-year, 4% note payable.Dec 31 Accrued interest on the note payable.2019Jul 1 Paid the note payable at maturity.1Requirements1. How much interest expense must be accrued at December 31, 2018? (Round your answerto the nearest whole dollar.)2. Determine the amount of Dean Sales’ final payment on July 1, 2019.3. How much interest expense will Dean Sales report for 2018 and for 2019? (If needed,round your answer to the nearest whole dollar.)
- Design a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance - 2500Incentive- 75% target completionPf 12%Earned leaves - 2LOP - 4 Prepare the assignment in Ms excel/ Ms Word.Use the information for the next three (3) questions. Seva Company operates a customer loyalty program. The entity grants program members loyalty points when they spend a specified amount on purchases. Program members can redeem the points for further purchases. The points have no expiry date.During 2020, the customer earned 60,000 points. Management expects that 100% of these points will be redeemed. The stand-alone selling price of each loyalty point is estimated at P20. The sales during 2020 amounted to P6,800,000 based on stand-alone selling price.On December 31, 2020, 28,800 points have been redeemed in exchange for purchases.In 2021, the management revised expectations and now expects 90% of the points to be redeemed. 9,000 points were redeemed during the year.How much of the sales should be allocated to the award points? How much should be recognized as revenue for 2020? How much should be recognized as revenue for 2021?Required information Skip to question [The following information applies to the questions displayed below.] Franklin Training Services (FTS) provides instruction on the use of computer software for the employees of its corporate clients. It offers courses in the clients’ offices on the clients’ equipment. The only major expense FTS incurs is instructor salaries; it pays instructors $6,000 per course taught. FTS recently agreed to offer a course of instruction to the employees of Novak Incorporated at a price of $700 per student. Novak estimated that 20 students would attend the course. Base your answers on the preceding information. FTS sells a custom wood plaque to students who complete the training course. Due to the custom nature of these plaques, FTS has to produce them in advance based on the estimated number of students to be enrolled in the course. Any plaques made for students who do not end up completing the course will be discarded. Prior to the first class, FTS…