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I am going to answer each one of your questions one at a time, so please bear with me, as it will take a little time.
XXXXX XXXXX net pay (this assumes 2011 withholding rates as found in IRS Publication 15), that there are no state wages, and that the health insurance is pre-tax. Gross Pay: $1200Less Health Ins: (42.50)Taxable Pay: 1157.50SS Tax: 71.77 (1157.50 *.062)Medicare Tax: 16.78 (1157.50 *.0145)FIT: 91.79Net Pay: 977.17FIT calcualted as follows: Taxable less allowances (1157.50 less (71.15*4) = 872.9(872.9 * .15)-39.15 = 91.79
are you working on the other questions, or is somone else
No, I am working on them, please be patient.
thank you. im sorry i've never done this before.
Not a problem.
Bob's proceeds: Discount on the note is calculated as follows:
Maturity Value * Discount Rate * Discount Period = Discount
Maturity Value is 5,133.33 calculated as follows: 5,000 * 8% * (120/360)
5,133.33 * 9% * (66/360) = 84.70
Bob’s Proceeds are the Maturity Value less the Discount so 5133.33-84.70=5048.63
Total Liability is 1,800 + 600 + 13000 + 8000 which equals 23,400.
However, because the policy will only pay $10,000 per person for personal injuries, the amount the insurance will pay must be reduced by 3,000 or $20,400. The insurance company will pay this amount less Jim’s deductible, so $20,200. Jim is responsible for the rest of the liability, so 3,200.
Jeff Sellers and Radioshack Stock:
Cost of shares to purchase: 200 * 22.35 = 4470
Commission on purchase – 4,470 * 2% = 89.40
Cost of shares + commission = Total cost: 4,559.40
Sales price of shares = 200 * 31.76 = 6,352
Commission on sale: 6,352 * .02 = 127.04
Proceeds to Jeff: 6,224.96
Jeff’s gain on sale: 6,224.96 – 4559.40 = 1665.56
are you working on the other questions
Ray needs to invest $8,681.40 today to have enough for his retirement. Use the present value of $1 formula, which is 1/(1+r)^n where r is the rate and n is the number of periods. So your present value factor is 1/(1.07^40), which gives you a factor of .06678. .06678 * 130,000 = 8681.40
And I am getting the answer to the last question now:
A = ([C / R]† * L) Where:A = Amount PayableC = Amount of Coverage Purchased (180,000)R = Property Value * Coinsurance percentage (80% * 300,000)L = Loss (210,000)(180,000)/240,000) * 210,000= 157,700
If Al had met the coinsurance requirement, the insurance company would have paid out 210,000, the full amount of the loss.
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thank you very much