Homework Answers
As the language of question was a bit vague, i have applied necessary & suitable assumption while solving the question. These assumption are clearly stated in the image of answer attached. Thus there may be more than one anwser to this question which may be based on different interpretation of language of question.
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Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds...
Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average...
Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average earning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $10,000 a year for...
Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $10,000 a year for the next 30 years. (a) What would be the total amount of these additional earnings? (b) What would be the future value of these additional earnings based on an annual interest rate of 8 percent? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
Return to que 7. Jenny Lopez estimates that as a result of completing her master's degree,...
Return to que 7. Jenny Lopez estimates that as a result of completing her master's degree, she will earn an additional $8,000 a year for the next 40 years (a) What would be the total amount of these additional earnings? 10 points Answer is complete but not entirely correct. Additional earnings s 160,000 (b) What would be the future value of these additional earnings based on an annual interest rate of 6 percent? Use Exhibit 1-8. (Round time value factor...
Calculate the future value of a retirement account in which you deposit $3,000 a year for 40 years with an annual intere...
Calculate the future value of a retirement account in which you deposit $3,000 a year for 40 years with an annual interest rate of 8 percent. Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
Ruby is 25 and has a good job at a biotechnology company. She currently has $9,400 in an IRA, an important part of her r...
Ruby is 25 and has a good job at a biotechnology company. She currently has $9,400 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 8 percent, and she plans to leave it untouched until she retires at age 65. Ruby estimates that she will need $875,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $20,000...
You deposit $6000 each year into your retirement account, starting in one year. If these funds...
You deposit $6000 each year into your retirement account, starting in one year. If these funds earn an average of 7% per year over the 29 years until your retirement, what will be the value of your retirement account upon retirement?
Julie has just retired. Her company's retirement program has two options as to how retirement benefits...
Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $130,000 immediately as her full retirement benefit. Under the second option, she would receive $19,000 each year for 5 years plus a lump-sum payment of $75,000 at the end of the 5-year period. Click here to view Exhibit 128-1 and Exhibit 128-2, to determine the appropriate discount factors) using tables....
1-You deposit $7000 each year into your retirement account, starting in one year. If these funds earn an average of 8% p...
1-You deposit $7000 each year into your retirement account, starting in one year. If these funds earn an average of 8% per year over the 26 years until your retirement, what will be the value of your retirement account upon retirement? 2-You had $3333 withheld for federal income taxes and a tax liability of $2376? How much should you be refunded?
Problem 9-7 Calculating the Monthly Housing Payment [LO9-4) Ben and Carla Manchester plan to buy a...
Problem 9-7 Calculating the Monthly Housing Payment [LO9-4) Ben and Carla Manchester plan to buy a condominium. They will obtain a $205,000, 20-year mortgage at 5.5 percent. Their annual property taxes are expected to be $2,088. Property Insurance is $1,548 a year, and the condo association fee is $55 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9.9. (Round time value factor to 2 decimal places and final answer to the...
0 Required information The following information applies to the questions displayed below In 2018, Nina contributes 8 percent of her $83,000 annual salary to her 401(k) account. She expects to...
0 Required information The following information applies to the questions displayed below In 2018, Nina contributes 8 percent of her $83,000 annual salary to her 401(k) account. She expects to earn a 10 percent before-tax rate of return. Assuming she leaves this (and any employer contributions) in the account until she retires in 20 years, what is Nina's after-tax accumulation from her 2018 contributions to her 401(k) account? (Use Table 3. Table 4 (Round your intermediate calculations and final answers...
Return to que 7. Jenny Lopez estimates that as a result of completing her master's degree, she will earn an additional $8,000 a year for the next 40 years (a) What would be the total amount of these additional earnings? 10 points Answer is complete but not entirely correct. Additional earnings s 160,000 (b) What would be the future value of these additional earnings based on an annual interest rate of 6 percent? Use Exhibit 1-8. (Round time value factor...
Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $130,000 immediately as her full retirement benefit. Under the second option, she would receive $19,000 each year for 5 years plus a lump-sum payment of $75,000 at the end of the 5-year period. Click here to view Exhibit 128-1 and Exhibit 128-2, to determine the appropriate discount factors) using tables....
Problem 9-7 Calculating the Monthly Housing Payment [LO9-4) Ben and Carla Manchester plan to buy a condominium. They will obtain a $205,000, 20-year mortgage at 5.5 percent. Their annual property taxes are expected to be $2,088. Property Insurance is $1,548 a year, and the condo association fee is $55 a month. Based on these items, determine the total monthly housing payment for the Manchesters. Use Exhibit 9.9. (Round time value factor to 2 decimal places and final answer to the...
0 Required information The following information applies to the questions displayed below In 2018, Nina contributes 8 percent of her $83,000 annual salary to her 401(k) account. She expects to earn a 10 percent before-tax rate of return. Assuming she leaves this (and any employer contributions) in the account until she retires in 20 years, what is Nina's after-tax accumulation from her 2018 contributions to her 401(k) account? (Use Table 3. Table 4 (Round your intermediate calculations and final answers...
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