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Questions -
Q1- Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five years he can receive a payment starting at $2,500 and increasing by 1% each time thereafter. At the end of the term, an additional lump-sum payment of $10,000 is required. If the annuity can earn 8.75% compounded semi-annually, what lump sum should he deposit today?
Q2- Sanchez is eligible to receive retirement benefits of $901.01 at age 65, but decides to start receiving them when he turns 60 instead. This incurs a 36% penalty on his benefits. By taking his retirement benefits at age 60, he will realize a monthly saving of $184.80 in retirement fund contributions. Both the benefits and contributions savings are expected to rise monthly by 0.15%. He will contribute the sum of these two amounts into his RRSP, which earns 7.35% compounded monthly until age 65, when he retires. In retirement, he will use the accumulated savings, which are expected to earn 4.5% compounded quarterly, to top up his retirement benefit payments to his pre-penalty amount. The monthly benefits are expected to rise monthly by 0.15%.
a. Calculate the total of the monthly benefits and savings at age 60.
b. Calculate the future value of the monthly savings and benefits at age 65.
Landon, Inc., a calendar year S corporation had a balance in AAA of $185,000. Calculate the balance in Landon Inc.'s AAA and AEP accounts at the end of the year
Classifying types of adjustments - Classify the following items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue, or (d) accrued expense
Create a proposed schedule of liquidation, showing how cash could be safely distributed to the partners at this time.
Human IQ scores are approximately normally distributed with a mean 100 and standard deviation 15. Determine the minimum IQ scores
Prepared the general journal adjusting entry (without explanation) needed for December 31, 20X1. If no entry is required then write "No Entry Required."
Generate a list of differences that you would expect to see on your income statement and your balance sheet after the convergence process is complete - Describe what impact the convergence will have on your company's inventory account (IAS 2).
what is the balance of the work in process on december 31. at the beginning of 2011 work in process included 7200 of
Top Sail Company produces one type of machine with the following costs and revenues for year. What is the selling price per unit
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on August 15, 2011.
The normal profit margin is 30% of selling price. What unit value should Ross use when applying the LCM rule to ending inventory?
Problem - Statement of cash flows. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities
Birch Company has 5 sales employees, each of whom earns $3,000 per month. Calculate the employee and employer portion of CPP and EI
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