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sergey [27]
2 years ago
7

Jenna is the beneficiary of a fund of 20,000 that pays her 1,000 at the end of each month. The fund earns 6% compounded monthly.

The final payment to exhaust the fund will be a balloon payment. Calculate the amount of the balloon payment.
Business
1 answer:
olchik [2.2K]2 years ago
6 0

Answer:

Given

Fund Amount P=20000

Payment each month A=1000

Interest rate per month r=6%/12=0.5%

Let B is balloon payment and N is the total number of Payment

so P=A*(1-(1+r)^-(N-1))/r + B/(1+r)^N

20000=1000*(1-(1+0.5%)^(N-1))/0.5% + B/(1+0.5%)^N

By using the trial and error method we find that N=21

So B/(1+0.5%)^21=1012.53

B=1124.39

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Agnes pays state income tax equal to 3.75% of her federal taxable income. She pays federal income tax equal to 28.4% of her fede
max2010maxim [7]

____________________________________________________

Answer:

Your answer would be D). $2,040.00

____________________________________________________

Explanation:

To find the state income tax in this situation, we would need to be doing a lot of multiplying and dividing in order to get our answer.

We would use this equation:

t = px

t = Total paid

p = percentage

x = unknown

In this case, we would need to find what x is.

Let's give you the equation:

15,449.60 = 28.4x

We would need to get x by itself, so we would divide by 28.4. But first, we would need to move the decimal place from 28.4 2 times to the left, so we would be dividing by .284

\frac{15449.60}{.284} = 54,400

Now, that;;s the federal income tax, but we have to find the state income tax. We would use 54,400 and miltiply it by 3.75 (move 2 decimal places to the left to get 0.0375).

54,400*0.0375= 2,040

Agnes payed <u>$2,040</u> in state income tax.

D). $2,040 should be your FINAL answer.

____________________________________________________

8 0
2 years ago
You are a CPA. You have just finished one of your client’s taxes and found that he owes $10,000 more in taxes than he expected.
solmaris [256]

Answer:

(2) I. Express appreciation for trusting you to handle taxes II. Explain situation A. Unexpected income B. Change in tax codes III. Inform the client he owes an additional $10,000 in taxes IV. Close with a forward-looking statement.

Explanation:

This would be the best way to address this situation. In this example, the client is likely to be angry and upset when he realizes about the changes in his taxes. Therefore, you should try to preempt this situation. By expressing appreciation for using you to handle his taxes, you begin in a positive and friendly note. Moreover, you should proceed to explain the situation, inform him of the changes, and end on a kind note.

6 0
2 years ago
A marketing consultant, Sofia, has been studying the effect of increasing advertising spending on product sales. Sofia conducts
UkoKoshka [18]

No, because 100,000 is much greater than the values used in the experiment

Explanation:

The advertisement budget is an estimation of the company's commercial spending for a specified amount of time. More specifically, it is the capital that a organisation is able to put aside to accomplish its marketing goals.

In developing an advertisement budget, a corporation must balance the importance of the promotional dollar against the value of the dollar as known revenue.

Better promotional budgets — and campaigns — focus on consumers' desires and address their challenges, not on business concerns such as overstock elimination.

5 0
1 year ago
A supply curve slopes upwards because a. ​the quantity supplied in insensitive to price b. ​an increase in price brings the quan
lapo4ka [179]

Answer:

The correct answer is the option C: the higher the price the higher the quantity that the sellers are willing to supply.

Explanation:

To begin with, to understand why the supply curve slopes upwards we need to understand that <u>there is a direct relationship</u> between the quantity that the suppliers are willing to sell and tha price of the product offered and therefore that when the price increases the amount that the suppliers will be willing to offer will increase due to that direct relationship and that is reason why the supply curve slopes upwards.

3 0
2 years ago
Jason purchased ABC stock at $40 per share and DEF stock at $35 per share on the same day in 2015. Exactly 6 months later, the A
Pachacha [2.7K]

Answer:

C) ABC 5% and DEF 5.7%

Explanation:

Data provided in the question:

Purchasing Cost of Stock ABC purchased = $40 per share

Purchasing Cost of Stock DEF purchased = $35 per share

Time = 6 months

Selling price of share of ABC = $42 per share

Selling price of DEF share = $36

Dividend paid to the DEF = $0.5 each quarter i.e $0.5 twice in 6 months

Thus,

Total dividend paid to DEF = $0.5 × 2

= $1

Now,

For ABC

Total return = Selling price - Purchasing Cost

= $42 - $40

= $2 per share

thus,

Holding period return = [ Total return ÷ Purchasing cost ] × 100%

= [ $2 ÷ $40 ] × 100%

= 5%

For DEF

Total return = Selling price + Dividend received - Purchasing Cost

= $36 + $1 - $35

= $2 per share

thus,

Holding period return = [ Total return ÷ Purchasing cost ] × 100%

= [ $2 ÷ $35 ] × 100%

= 5.7%

Hence,

option C) ABC 5% and DEF 5.7%.

7 0
1 year ago
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