Homework Answers
Answer is $2,519,443
Current balance = $32,500
Annual deposit = $7,000
Interest rate = 8%
Time period = 40 years
Accumulated balance = $32,500*1.08^40 + $7,000*1.08^39 +
$7,000*1.08^38 + … + $7,000*1.08 + $7,000
Accumulated balance = $32,500 * 1.08^40 + $7,000 * (1.08^40 - 1) /
0.08
Accumulated balance = $32,500 * 21.724521 + $7,000 *
259.056519
Accumulated balance = $2,519,443
So, Ally’s IRA account balance will be $2,519,443 in 40 years
Add Answer to:
O Question 19 2 s Ally Gator has an IRA with a current balance of 532.500....
Ally Gator has an IRA with a current balance of $25,000. Ally plans to continue depositing...
Ally Gator has an IRA with a current balance of $25,000. Ally plans to continue depositing $9,000 annually into this account which earns 7%. After 45 years, what will the balance of Ally's IRA be? $2,796,505 $2,896,605 $2.996.705 $3,096,805
Currently, Ally Gator has $12,500 in her Roth IRA. If Ally plans on contributing $6000 annually...
Currently, Ally Gator has $12,500 in her Roth IRA. If Ally plans on contributing $6000 annually for next 45 years and her IRA earns 7% annually, what will her IRA be worth?
Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible...
Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible contributions) and her IRA is now worth $46,000. She is trying to decide whether she should roll over her traditional IRA into a Roth IRA. Her current marginal tax rate is 25 percent. She plans to withdraw the entire balance of the account in 20 years and she expects to earn a before-tax rate of return of 5.6 percent on her retirement accounts and...
Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible...
Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible contributions), and her IRA is now worth $39,000. She is trying to decide whether she should roll over her traditional IRA into a Roth IRA. Her current marginal tax rate is 24 percent. She plans to withdraw the entire balance of the account in 20 years and she expects to earn a before-tax rate of return of 4.9 percent on her retirement accounts and...
peter molloy is considering making a contribution to an IRA, but his employer has a profit-sharing...
peter molloy is considering making a contribution to an IRA, but his employer has a profit-sharing plan. Plan benefits vest over 6 years, and peter is 60% vested. The employer made no contribution to the plan for the year. No employees have terminated during the year. Which of the following statements concerning Peter’s contribution to an IRA is correct? peters contribution will not be deductible because contributions are not required every year to profit-sharing plan. Peters contribution will be deductible...
The next FIVE questions require the following data....... Sex (O=F) First Income Current Income Question 21...
The next FIVE questions require the following data....... Sex (O=F) First Income Current Income Question 21 (3 points) (1=M) ($,000) ($,000) Person (s) (x) (y) OOO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 0 0 0 0 0 1 1 1 15 18 16 24 24 34 20 32 12 29 34 17 24 32 28 40 28 78 28 50 18 52 60 21 1 1 1 26 22 22 45...
can someone help me to solve all this problem .. please.. X P4-19 (Similar to) Question...
can someone help me to solve all this problem ..
please..
X P4-19 (Similar to) Question Help Proforma balance sheet Peabody & Peabody has 2019 sales of $10 9 million It wishes to analyze expected performance and financing needs for 2021-2 years ahead Given the following information respond to parts and be (1) The percent of sales for tems that vary directly with sales are as follows Accounts receivable 12% Inventory 1835 Accounts payable 14.5% Neprofit margin 27% (2) Marketable...
D. $9,763.58 QUESTION 6 The Johnsons have accumulated a nest egg of $25,000 that they intend to u...
d. $9,763.58 QUESTION 6 The Johnsons have accumulated a nest egg of $25,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest deductions) toward the purchase of their house. However, because of other financial obligations, their monthly a minimum of $1,000/month in monthly payments (to take advantage of their tax ents should not exceed...
COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $'000's $'000's 146 134 Current Assets Cash...
COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $'000's $'000's 146 134 Current Assets Cash at Bank Accounts Receivable Prepaid Insurance Inventory 52 45 10 6 58 46 250 170 Non-Current Assets Machinery less Accum. Depr Machinery Investments Total Assets 90 160 60 110 50 20 476 361 42 58 Current Liabilities Accounts Payable Wages Payable Income Tax Payable 3 8 10 5 Non-Current Liabilities Loan 130 100 185 171 Total Liabilities Net Assets 291 190 Shareholders' Equity Share...
ITEM SET 1: RETIREMENT PLAN DISTRIBUTIONS has worked on the M et River Pilots Inc. ICRP...
ITEM SET 1: RETIREMENT PLAN DISTRIBUTIONS has worked on the M et River Pilots Inc. ICRP and Cha deaux is a 58-year old riverboat captain. He grew up in New Orleans and has worked River his entire life. He works for a private company in New Orleans called Crescent River Pilots rrido Patricia, who is 35 years old. They have a seven-year-old son, named River. CRP sponsors sponsors a 401 that offers a Roth account and a separate ESOP. Chad...
Ally Gator has an IRA with a current balance of $25,000. Ally plans to continue depositing $9,000 annually into this account which earns 7%. After 45 years, what will the balance of Ally's IRA be? $2,796,505 $2,896,605 $2.996.705 $3,096,805
Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible contributions) and her IRA is now worth $46,000. She is trying to decide whether she should roll over her traditional IRA into a Roth IRA. Her current marginal tax rate is 25 percent. She plans to withdraw the entire balance of the account in 20 years and she expects to earn a before-tax rate of return of 5.6 percent on her retirement accounts and...
The next FIVE questions require the following data....... Sex (O=F) First Income Current Income Question 21 (3 points) (1=M) ($,000) ($,000) Person (s) (x) (y) OOO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 0 0 0 0 0 1 1 1 15 18 16 24 24 34 20 32 12 29 34 17 24 32 28 40 28 78 28 50 18 52 60 21 1 1 1 26 22 22 45...
can someone help me to solve all this problem ..
please..
X P4-19 (Similar to) Question Help Proforma balance sheet Peabody & Peabody has 2019 sales of $10 9 million It wishes to analyze expected performance and financing needs for 2021-2 years ahead Given the following information respond to parts and be (1) The percent of sales for tems that vary directly with sales are as follows Accounts receivable 12% Inventory 1835 Accounts payable 14.5% Neprofit margin 27% (2) Marketable...
d. $9,763.58 QUESTION 6 The Johnsons have accumulated a nest egg of $25,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest deductions) toward the purchase of their house. However, because of other financial obligations, their monthly a minimum of $1,000/month in monthly payments (to take advantage of their tax ents should not exceed...
COMPARATIVE BALANCE SHEETS AS AT JUNE 30 2020 2019 $'000's $'000's 146 134 Current Assets Cash at Bank Accounts Receivable Prepaid Insurance Inventory 52 45 10 6 58 46 250 170 Non-Current Assets Machinery less Accum. Depr Machinery Investments Total Assets 90 160 60 110 50 20 476 361 42 58 Current Liabilities Accounts Payable Wages Payable Income Tax Payable 3 8 10 5 Non-Current Liabilities Loan 130 100 185 171 Total Liabilities Net Assets 291 190 Shareholders' Equity Share...
ITEM SET 1: RETIREMENT PLAN DISTRIBUTIONS has worked on the M et River Pilots Inc. ICRP and Cha deaux is a 58-year old riverboat captain. He grew up in New Orleans and has worked River his entire life. He works for a private company in New Orleans called Crescent River Pilots rrido Patricia, who is 35 years old. They have a seven-year-old son, named River. CRP sponsors sponsors a 401 that offers a Roth account and a separate ESOP. Chad...
Most questions answered within 3 hours.
-
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 15 minutes ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 55 minutes ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 2 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 2 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 4 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 4 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 4 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 5 hours ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 5 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 6 hours ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 7 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 7 hours ago