Answer:
amount = $1156.18
Explanation:
given data
save = $50
time = 5 year
interest rate = 6 percent
solution
here number of payment per annual will be 4
so interest rate per period will be
interest rate = .
interest rate = 1.50 %
and no of period will be = 5 × 4 = 20
and payment per period is $50
we apply here amount formula formula after 5 year
amount = payment per period × ....................1
amount = $50 ×
amount = $1156.18
Answer:
Your Personal savings account the instution can end because the money that you are making maybe came from the goverment its self. But it in reality it is your mortage that you get from your job really.
Explanation:
Answer: The answer would be $536.73
Explanation: Add up all the deduction amounts which will equal to 198.51, take away that amount from the 735.24 he earned and it will give you your answer of $536.73.
Answer:
$150
Explanation:
Calculation of how much income that Gramps will recognize on the first payment.
Since joint survivor annuity has 23.1 as the annual return multiple .
Calculation for Expected return
Expected return =Annual payment *Return multiple
($500*12) =$6,000
$6,000×23.1
=$138,600
Therefore :
$97,020/$138,600
=0.7×100
=70%
The 70% of each of the payment will be the return of capital while the 30%(100%-70%) will be the income.
Hence the first payment be:
30%×500
=$150
Therefore the amount of income that Gramps will recognize on the first payment will be $150
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