Numerade

Questions asked

ANSWERED

Keondre Parker

Numerade educator

You want to establish a savings fund from which a community organization could draw $1,690 a year for 25 years. If the account earns 4 percent, what amount would you have to deposit now to achieve this goal? Round time value factor to 3 decimal places and final answer to 2 decimal places.

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Matthew Wagner

Numerade educator

Bill and Sally Kaplan have an annual spending plan that amounts to $93,000. If inflation is 3 percent a year for the next three years, what amount will the Kaplans need for their living expenses three years from now? Round time value factor to 3 decimal places and final answer to 2 decimal places.

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Aparna Shakti

Numerade educator

Marla Opper currently earns $103,000 a year and is offered a job in another city for $114,700. The city she would move to has 10 percent higher living expenses than her current city. What minimum salary should Marla require before accepting the new position?

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Benjamin Densmore

Numerade educator

Bill Mason is considering two job offers. Job 1 pays a salary of $41,900 with $4,875 of nontaxable employee benefits. Job 2 pays a salary of $40,000 and $6,530 of nontaxable benefits. Use a 28 percent tax rate. (a)Calculate the monetary value of each job. (b)Which position would have the higher monetary value?

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Benjamin Densmore

Numerade educator

Helen Ming receives a travel allowance of $250 each week from her company for time away from home. If this allowance is taxable and she has a 10 percent income tax rate, what amount will she have to pay in taxes for this employee benefit?

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Jerelyn Nevil

Numerade educator

During a job interview, Pam Thompson is offered a salary of $33,000. The company gives annual raises of 4 percent. What would be Pam’s salary during her fifth year on the job?

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Keondre Parker

Numerade educator

Luke Anderson is earning $22,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost of living 12 percent higher than where he currently lives. What is the minimum salary Brad would need at his new job to maintain the same standard of living?

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Jerelyn Nevil

Numerade educator

Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $6,000 a year for the next 25 years. (a) What would be the total amount of these additional earnings? (b) What would be the future value of these additional earnings based on an annual interest rate of 10 percent?

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Dani Dutmer

Numerade educator

Mai Tran plans to set aside $2,500 a year for the next six years, earning 4 percent. What would be the future value of this savings amount?

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Dani Dutmer

Numerade educator

Carla Lopez deposits $3,700 a year into her retirement account. If these funds have an average earning of 9 percent over the 40 years until her retirement, what will be the value of her retirement account?

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Paige S.