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Calculate how much can consume in may

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In February 2020 Ink Joy Ltd reported net profits after tax of $500,000 for the year 2019 and announced that it will pay the annual dividend on 20 May 2020. Ink Joy expects the net profits after tax for 2020 to be 20% higher and it will maintain its current dividend payout ratio of 60%. Ink Joy will pay the annual dividend for 2020 in 20 May, 2021.

Question 1: Amy Aldan owns 10% of the ordinary share capital of Ink Joy Ltd. She has no savings and her sole income comes from Ink Joy Ltd. If Amy wishes to buy household goods worth $5000 in May 2020 and pays all her other bills totalling $35,000, Calculate how much can she consume in May 2021? Assume the market rate of interest is 8% per annum compounded annually.

Reference no: EM132518696

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