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A couple will retire in 50 years; they plan to spend about $38,000 a year in retirement, which should last about 25 years. They believe that they can earn 9% interest on retirement savings.
Question a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Question b. How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $68,000 on their child's college education? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2014, new technology was introdu..
Paid $1,000 of amount owed on truck,and $400 of amount owed on cleaning supplies. do not know how to post theses on thee trail balance of a work sheet
Financial analysis, key concept A perplexing issue, particularly for many human resource management and marketing professionals, is the absence of a valuation in the traditional financial statements relating to human capital and other internally gene..
A company has net income of $3000000. It has 600,000 weighted-average common shares outstanding and a price-earnings ratio of 17. what is the market value per share of this company's stock?
Calculate the material handling rate that would have been used by Eloise Smith's predecessor at East Coast Marine.
MoCo begins operations in April, uses the perpetual method, and records merchandise at net. MoCo makes two purchases on account Terms are 1/15,n/45. on April 4, MoCo purchases merchandise for $3,000, which it pays on April 16. On April 11 makes a $9,..
How many equivalent units for conversion costs would there be using the FIFO method?
Great responses class! There are many descriptions about how HIPAA or the Health Insurance Portability and Accountability Act affect business organizations. As a Human Resource Manager how would you explain this importance of this Act to new employee..
Prepare an adjusted trial balance, prepare an income statement for year ended 2013 and a balance sheet as of December 31, 2013 - Prepare and post closing entries.
Record the adjustment for uncollectible accounts on June 30, 2013 - "Suppose Suzie estimates uncollectible accounts to be 10% of accounts receivable
Prepare the journal entry to record the sale of any job(s) during the month and what is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of?
Assume a 3 year $100,000 bond with an 11% stated rate and a 9% effective rate was sold for $105,063. Interest is paid annually. Use the straight line method for amortization. What is the interest expense in the first year of bond? What is the cash co..
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