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Suppose a resident with yearly income of $40,000.00. The Medicare Levy will be $600.00 and the taxes will be $5,550.00/year or $106.73/week. His/her net salary per year will be $33,850.00 or $650.96 per week. Suppose the user needs $628.71 per week as living expenditure. So it is possible to invest $22.25 per week. Suppose the interest is 13% per year (or 1% each 4 weeks, since we have 52 weeks per year) and the number of weeks the user will invest the money is 18. Assuming the user asks to invest $22.25 per week, then the investment account output will be:
Weeks
Money in the end of each 4 weeks
4
$89.89 = 22.25*4*1.01
8
$180.68 = (89.89+22.25*4)*1.01
12
$272.38 = (180.68+22.25*4)*1.01
16
$364.99 = (272.38+22.25*4)*1.01
18
$409.49 = (364.99 + 22.25*2) (note that is less than 4 weeks, so the interest is not applied
1-7
how much will it be for a 1040 project?
This year, the Coral Company Inc. generated $650,000 from its routine business operations. In addition, it sold the following assets, all of which were held for more than 12 months
gregory and lulu clifden tax problem pg D6 to D8
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