rs 1-6 (Midterm) 30 pts. 1
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Jenna is 22 and makes $18,000 per year. She has made some tough trade-offs and sacrifices to ensure that she is spending less than she is earning. She has a few
discretionary dollars left each month, which she keeps in her savings account. Her parents have urged her to put some of that discretionary money into a retirement
savings plan at work, but she feels she'd rather build her savings account for a safety net and will contribute to a retirement savings plan when she is earning a
higher salary. Given this scenario
Multinle Choice​

Answers

Answer 1

Answer:

There are no available options, but one thing is for sure, Jenna is making a mistake. Financially, Jenna is not making a wise decision. The greatest advantage of a retirement account is that your money can earn interests and grow tax free. It is really hard to match an opportunity like that specially for someone that doesn't have a lot of money.

E.g. you invest $1,000 and earn $500 but have to pay 20% in taxes, so your net return is $400. Jenna must think that it is not a significant difference, but in 40 years, it is a lot of money that you can save on an IRA account.

If she saved $1,000 in an IRA account and that money can earn 5% per year, by the time she is 62, she will have $1,000 x 1.05⁴⁰ = $7,040. Imagine if she deposits $1,000 each year during 40 years, she will have $1,000 x 120.800 (FV factor ordinary annuity, 5%, 40 periods) = $120,800. The more she can save, the more she will have once she retires.


Related Questions

PLEASE HELP ME WITH THIS! Identify the ways of talking during a group discussion that are cooperative or create conflict.
I don’t think I agree.
Could you explain?

Wow! That sounds dumb.

Let's ask what everyone
feels about this.

I understand how you feel,
but I’d like you to consider
a different perspective.

You’re not making any
sense right now.

Answers

Answer:

I understand how you feel,

but I’d like you to consider

a different perspective.

Explanation:

i hope this helps :)

Answer:

Drag each label to the correct category.

Identify the ways of talking during a group discussion as either cooperative or conflict-creating.

I don't understand

what you’re saying.

Could you clarify?

Your perspective is

limited.

So you can't

see the truth.

I understand what

you mean, but let's

ask if everyone feels

the same way.

I am open to your

views, but would

you mind considering

my perspective as well?

What I say is right

because I have proof.

Do you still

want to argue?

Explanation:

Raphael is buying salad and pizza for a company lunch. Suppose that a bowl of salad costs $5.00, and a slice of pizza costs $3.00. Let E be the amount in dollars that Raphael spends on salad and pizza. If Raphael buys S bowls of salad and P slices of pizza, then the total amount of money he spends ( E ) can be represented by the equation_______________________ . Now rearrange the equation you wrote above so that P is written in terms of E and S . The quantity of pizza he buys can be represented by the equation P=E−($5.00×S)$3.00 . Suppose Raphael has $30.00 to spend on salad and pizza; that is, _________________.

Answers

Answer:

The answer is "[tex]\bold{E = \$ 5.00S+\$ 3P \ \ \ and \ \ \ E = \$ 30}[/tex]".

Explanation:

Assume that person-person C is still there. He purchases 2 things – salad (S) and pizza (P).  Salad (PS) cost five dollars and pizza cost(Pp) three dollars.  Let E is the cumulative dollar amount spent on both S and P by Individual C. Look for a cumulative sum of money he pays, represented by E.  

Absolute spending equals the amount of good S expenses and good P expenses.

[tex]\to E = \$ 5.00S+\$ 3P[/tex]

In E and S, compose the P equation.  

[tex]E=\$ 5.00 S+\$ 3P \\\\3P=E-\$ 5.00 S \\\\P= \frac{E - \$ 5.00S}{\$ 3.00}[/tex]

Therefore, the required equation is:

[tex]P= \frac{E - \$ 5.00S}{\$ 3.00}[/tex]

Person C will have $30 to spend on the goods E = $30.

Lovely lawns, inc., intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager estimates a probable six-week lag between fertilizer sales and mower sales. The pertinent data are: period fertilizer sales (tons) number of mowers sold (six-week lag) period fertilizer sales (tons) number of mowers sold (six-week lag) 1 1.6 10 8 1.3 7 2 1.3 8 9 1.7 10 3 1.8 11 10 1.2 6 4 2.0 12 11 1.9 11 5 2.2 12 12 1.4 8 6 1.6 9 13 1.7 10 7 1.5 8 14 1.6 9
a. Determine the correlation between the two variables. Does it appear that a relationship exists between these variables will yield good predictions

Answers

Answer:

correlation between variables (r) = 0.959 and this signifies a positive relationship between the variables

Explanation:

A) Determine the correlation between the two variables

we have to apply simple Linear regression ( least square method )

attached below is the table

Regression equation ( y ) = a + bx

y = dependent variable ( mower )

x = independent variable ( fertilizer)

a = intercept point ( y axis and regression line )

b = slope ( regression line )

From the attached table

N = 14 ,    Σ x = 22.8,  

Σy = 131,   Σy^2 = 1269,

Σx^2 = 38.18,      (Σx)^2 = 519.84

Σxy = 219.8,       (Σy)^2 = 17161

correlation between variables (r) = 0.959 and this signifies a positive relationship between the variables

Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single-member LLC (a law firm). He reports his business as a sole proprietorship. Wages paid by the law firm amount to $40,000; the law firm has no significant property. Molly is employed as a tax manager by a local CPA firm. Their modified taxable income is $381,400 (this is also their taxable income before the deduction for qualified business income). Determine their QBI deduction for 2019.

Answers

Answer:

$14,400

Explanation:

QBI deduction can be as much as 20% of QBI but it cannot exceed 20% of taxable income before QBI deduction and/or capital gains.

QBI deduction also starts to phase out if the couple's income is higher than $321,400 (for 2019).

phase out = 1 - [($381,400 - $321,400) / $100,000] = 1 - 0.6 = 40%

we must choose the higher between:

tentative QBI deduction based on W-2 wages = 50% x $40,000 x 40% = $8,000

                     or

QBI deduction based on capital investment limit = (25% x $40,000 x 40%) + $0 (no qualified property) = $4,000

allowable QBI deduction:

($300,000 x 20% x 40%) - {[($300,000 x 20% x 40%) - $8,000] x (1 - 40%)} = $24,000 - [($24,000 - $8,000) x 0.60] = $24,000 - $9,600 = $14,400

The Clean ’n Green recycling company identified 150 apartment complexes (worth~$500K annually in potential contracts) that don’t offer recycling for tenants even though tenants have requested the service. A recent change in city laws mandates that large apartment complexes must recycle. The city is offering a subsidy to cover the first two years of a recycling service to ensure the law can be met. Clean ’n Green has not contacted the complex owners yet. Which one of the criteria for defining a potential market is missing from this analysis?

Answers

Answer:

an organization has the ability to pay for the service

Explanation:

Potential markets are defined as business opportunities that can be captured in the future. For example of a company plans to expand its product offerings to a new segment of customers, the new set of customers are it's potential market.

Criteria for potential market includes: substantial number of customers, ability to pay for a service, identifiable and measurable, and accessibility.

In this scenario Clean ’n Green recycling don’t offer recycling for tenants even though tenants have requested the service, and recent change in city laws mandates that large apartment complexes must recycle.

The organisation is not meeting the criteria of having the ability to pay for the service.

Furtastic manufactures imitation fur garments. On June 1, 2021, Furtastic made a sale to Willett’s Department Store under terms that require Willett to pay $200,000 to Furtastic on June 30, 2021. In a separate transaction on June 15, 2021, Furtastic purchased brand advertising services from Willett for $22,000. The fair value of those advertising services is $10,000. Furtastic expects that 2% of all sales will prove uncollectible. Prepare the journal entries to record the transactions above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answers

Answer and Explanation:

The Journal entry is presented below:-

1. Accounts receivable Dr, $200,000  

       To Sales revenue $200,000

(Being sales revenue is recorded)

2. Advertising expense Dr, $10,000

Sales revenue Dr, $12,000

     To Cash $$22,000

(Being expenses is recorded)

Cash Dr, $200,000

    To Accounts Receivable $200,000

(Being cash receipt is recorded)

You hear a pitch where the founder says he'll reach $30 million in sales in 5 years. His first-year sales are projected at $5 million. Which is closest to the compound growth rate he is implying?

Answers

Answer:

43.1%

Explanation:

Working out the interest rate given the Present Value, a Future Value and how many Periods.

The applicable formula is  r = ( FV / PV )1/n - 1

Where r= interest rate

FV = future value... 30 m

Pv= present value... 5 m

n= number of periods.. 5

R = ( 30,000,000/ 5,000,000)1/5 -1

R=(6)0.2 -1

R=1.430969-1

R=0.430969

As a percentage , R=0.430969 x 100

=43.096

=43.1%

Answer:

56%

Explanation:

What is estimated tax?

Answers

Answer:

Estimated tax is a periodic advance pre-payment of taxes based on the amount of income that is earned and the amount of estimated tax liability that will have been incurred as a result.

A government that wants to keep prices stable would most likely take which
action?
A. Eliminate employment programs for poor citizens
B. Reduce productivity to decrease the per capita GDP
C. Borrow money from foreign governments
o o
D. Decrease the money supply to slow the rate of inflation

Answers

Answer:

D

Explanation:

By decreasing the money supply you will naturally lower the rate of inflation. Assuming demand for the product remains the same over time you will see the prices for products stabilize as they no longer need to be adjusted for inflation.

Answer:

decrease the money supply is the right answer

Explanation:

Which of the following is one of the basic functions of government
accountants?
A) Government accountants file tax returns for government agencies.
B) Government accountants purchase equipment for Congress.
C) Government accountants keep track of how government agencies use taxpayers money.
D) Government accountants create businesses laws and regulations.

Answers

Answer: A) Government accountants file tax returns for the government agencies.

Answer:

D

Explanation:

Which situations offer examples of Banking and Related Services workers? Check all that apply.

Anna analyzes loan applicants to decide whether to give them loans.
Aaron helps customers put money into and remove money from their accounts.
Jared researches the credit history of people applying for credit.
Tamara reviews the finances of a business to determine whether it is profitable.
Raquel helps individuals and companies prepare their tax forms.
Troy helps a family create a budget to save more money.

Answers

Anna provides loan applicants to decide to give them loans, put money into and remove money from their accounts and Jared researches the credit history, hence options A, B and C are correct.

What are Banking and Related Services workers?

The five most significant banking services include checking and savings accounts, loan and mortgage services, wealth management, issuing credit and debit cards, and overdraft services.

An individual who works for a bank and assists customers with standard financial transactions is known as a bank teller or bank clerk.

They do daily tasks that include processing withdrawals, making deposits, and giving customers of bank money orders or cashier's checks.

Therefore, these services also comprise analysis loan applicants with basic features and a device for utilizing the account (such as a debit card and online banking ID), hence options A, B, and C are correct.

Learn more about banking, here:

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Answer:here the answer for this question

Explanation:edge2023

which is greater 50.671 or 50.067 I need them for the state test tomorrow !!!

Answers

Answer:

50.671 is greater than 50.067

Answer:

50.671

Explanation:

50.671 is greater because of the decimal .671

the reason 50.067 isn't is because .067 is literally 1/10 of .671

why is it important to know about financial institutions? ​

Answers

Answer:

Financial institutions help to funnel money to the most successful businesses, which allows them to grow faster and supply even more of the desirable goods and services. This is how financial institutions greatly contribute to the efficient allocation of economic resources.

Explanation:

Answer:

In their desire to earn greater returns, financial institutions help to funnel money to the most successful businesses, which allows them to grow faster and supply even more of the desirable goods and services. This is how financial institutions greatly contribute to the efficient allocation of economic resources.

Explanation:

I hope this helps :)

Lightskins or Darkskins


Or Other ?

Answers

Answer:

any kind of boy

Explanation:

I have no type

If the U.S. dollar is strong, foreign imports are
A. strong
B. more expensive
C. less expensive
D. weak

Answers

Answer:

C

Explanation:

got right

Foreign imports are less expensive since the U.S. dollar is strong. So, the right answer is (C).

What are Foreign Imports?

Imports are products and services that are purchased by businesses, governments, and individuals from outside the country. Neither the nature nor the method of the imports matters.

You can send them, email them, or even carry them on a plane in your hand luggage. They qualify as imports if they are made abroad and offered for sale to consumers here.

There are imports of even tourism-related goods and services. All mementos from your vacation that you purchase while traveling outside the country are imported.

A nation has a trade deficit if its exports are more than its imports. A trade surplus is produced when an economy imports less than it exports. If a nation has a trade imbalance, it must borrow money from other nations to cover the additional costs.

Learn more about Foreign Imports , from ;

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In a small, closed economy, national income (GDP) is $750.00 million for the current year. Individuals have spent $300.00 million on the consumption of goods and services. They have paid a total of $250.00 million in taxes, and the government has spent $400.00 millionon goods and services this year. Use this information and the national income identity to answer the questions.How much is spent on investment in this economy?

Answers

Answer:

The amount spent on investment in this economy is $50 million in the current year.

Explanation:

This small or enclosed economy can calculate its Gross Domestic Product (GDP) through various approaches.  There is the income approach, the expenditures approach, and the output, value-added or production approach.  They give the same results.   The GDP measures all of an economy's products and services using the above mentioned approaches.

Definition of Diversification-

Answers

Answer:

the action of diversifying something or the fact of becoming more diverse

Explanation:

I’m assuming this question is within the context of business or economics so I’ll frame my answer accordingly. Diversification is varying your portfolio(the investments you make or in a business’ case, the services they) to help lower the overall risk you take on. An example of this is a company that offers invests in oil, hotels, and restaurants. If the oil industry took a dive, the firm would not go under cause of revenue from its other investments.

Research the consumer services industries in United States. Choose any one of the consumer services companies and write an essay of about 500 words on how a diverse economy such as the United States can satisfy the needs of its consumers. Consider different cultures and languages, services offered to lower socioeconomic populations, or services offered to disabled consumers or women. Also analyze the challenges faced by the consumer service industry.

Answers

Housing

During the recession and several years after, the housing sector suffered immeasurably. Businesses in the sector declared bankruptcy, unable to retain demand for their services. Fortunately, as demand for housing has slowly started to trend upward and consumer incomes have expanded, demand for home services has also recovered. The Landscaping Services industry is estimated to grow at an annualized rate of 1.3% to $70.6 billion in the five years to 2013. Operators in this industry are currently enjoying an estimated 6.0% profit margin and face a rosy outlook. Continuous recovery in the construction sector and in consumers’ wallets will underpin the industry’s forecast growth of 5.9% in the next five years.

A SWOT analysis helps companies put a priority on market research.
O True
O False​

Answers

A SWOT does put priority on market research.
True

what is an economic and non economic activity explain me in short and give one example each​

Answers

Answer:Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.

Explanation:

Need help on a question inbox us and ask !

Answers

ok I will right now jitjit

During the first quarter of the Super Bowl, Chris keeps track of actual game time vs. time devoted to commercials. Game time amounted to 35 minutes; commercials comprised 14 minutes. What fraction of the total time was the actual game shown? *

Answers

Answer:

5/7

Explanation:

The total time will be the aggregate of commercials and game time

=35 mins + 14 mins

=49 mins

game times as a fraction of total time

=35/49

=5/7

Adrienne is part of the senior management team at a company in which ____________ since her appointment __________ both morale and client-satisfaction have dramatically improved. Among her driving principles are the idea that people work better when they are both motivated and empowered to reach their goals, that each team member must contribute fully, and that when she has to make a key decision, everyone knows why she is making it. She is a useful example of how __________ works.

Answers

Answer:

improvements were clearly evident; as; democratic leadership style

Explanation:

What this means is that;

"Adrienne is part of the senior management team at a company in which improvements were clearly evident since her appointment, as both morale and client-satisfaction have dramatically improved. Among her driving principles is the idea that people work better when they are both motivated and empowered to reach their goals, that each team member must contribute fully, and that when she has to make a key decision, everyone knows why she is making it. She is a useful example of how democratic leadership style works."

Note, a democratic leadership style is one in which the manager or leader allows participation from his subordinates; in other words, it is a participative form of leadership.

7. Why do you think the graduation and retention rates for your selected colleges are displayed at the bottom of

the SAR? How might that information impact your college selection process?


Please I need help I speak little English

Answers

Answer:

It is on the bottom so you can compare the graduation and retention percentages all together and choose one together.

Explanation:

Because what if the college you want has low graduation rates, that would be bad for you, so by including it on the bottom, you calook at them all together and choose the best for you.

The graduation and retention rates are displayed at the bottom of the Students Aid Report in order to

The Students Aid Report refers to the document that gives a student the basic information that will be vital on knowing the eligibility for the Federal financial aid.

The graduation rate is important as it helps the student to know the quality of the school. It is also vital as it helps the person in knowing the number of students who finish their degrees as at when due.

With the graduation and retention rates for the colleges displayed at the bottom of  the Students Aid Report, students can make right choices about the schools.

In conclusion, with the above information, the student can then choose the best school that he believes will be good for him or her.

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Steve is a California resident who lives and works as a computer consultant in Walnut Creek. He earned $75,000 while working for XYZ LTD in 2018. Steve additionally had a contract job from ABC Co. based in Washington. His contract earnings totaled $17,000 in 2018. What amount is Steve’s total California resident income in 2018?

Answers

Answer:

$92,000

Explanation:

Steve is a California resident who lives and works as a computer consultant

He earned $75,000 while working for XYZ LTD in 2018

He also for a contract job from ABC corporation which totalled $17,000

Therefore Steve total California resident income for 2018 can be calculated as follows

$75,000 + $17,000

= $92,000

Hence Steve total California resident income for 2018 is $92,000

what are some potential consequences of having poor oral communication skills?​

Answers

The report found that in addition to its effect on productivity, miscommunication also has a heavy emotional impact on employees. Loss of morale, stress and frustration abound when employees can't connect. That's a burden employees may carry home with them, affecting their home life and future work performance.

please help due in an hour

Answers

a diamond cuz you can get 50000 bottles of water if you wanted
One diamond

The very first reason I would say is because it doesn’t specify how big of a diamond meaning the value could range from $100 to $100,000,000

The second reason is water is free in a sense you could get five empty bottles you find laying around and then go to a creek and fill them up with water. (You could get so much more for a diamond than a few bottles of water)

The last reason ( that goes along with the first two) is because it’s unique diamonds are hard to come across but water in the other hand is found almost every wear in fact it covers about 71% of earth.

Lisa is considering becoming a vet, so she has offered to help at the animal shelter without being
Paid.Lisa is doing what?

Answers

Answer:

volunteering

Explanation:

Hope this helps :)

​(Compound value​) The Aggarwal Corporation needs to save ​$13 million to retire a ​$13 million mortgage that matures in 13 years. To retire this​ mortgage, the company plans to put a fixed amount into an account at the end of each year for 13 ​years, with the first payment occurring at the end of 1 year. The Aggarwal Corporation expects to earn 13 percent annually on the money in this account. What equal annual contribution must it make to this account to accumulate the $ 13 million in 13 ​years? In order to retire a ​$13 million mortgage that matures in 13 ​years, what equal​ end-of-year contribution must the Aggarwal Corporation make to an account that earns 13 percent​ annually?

Answers

Answer:

$433,550.11

Explanation:

This is an ordinary annuity since the first payment occurs in 1 year. We can use the future value of an annuity formula to determine the annual contribution that must be made to the account.

future value = annual contribution x annuity factor

annual contribution = future value / annuity factor

future value = $13,000,000FV annuity factor, 13%, 13 periods = 29.985

annual contribution = $13,000,000 / 29.985 = $433,550.11

Select the correct answer.
A consumer wants to buy a refrigerator. What sort of product is this?
A. shopping
B. unsought
C.
specialty
D.
convenience
Reset

Answers

Depend on the usage of the refrigerator by the customer

Answer:

i believe it is c

Explanation:

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