Investment account output, Taxation

Assignment Help:

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

 


Related Discussions:- Investment account output

Income tax, income tax and its many types

income tax and its many types

., Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the followin...

Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: • salary of $300,000; • Payment of Alan''s mobile phone bill ($220 per mont

Calculate fiduciary income, should be on 2012 forms and done in pencil. It ...

should be on 2012 forms and done in pencil. It should include a schedule that shows the fiduciary income calculation and other relevant calculations. Jack Green established the Jac

Online Exam, Hi Dear, could you do the online exam with me !! Thank you

Hi Dear, could you do the online exam with me !! Thank you

types of taxes, An organization in Australia needs to comply with the stat...

An organization in Australia needs to comply with the statutory requirements of taxation. There are different types of taxes among which a few are common for all the industries and

#62, Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Sp...

Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husb

Calculate indicators of tax burden and financial services , Questions 1...

Questions 1. Knowledge a common feature of the enterprise: the legal form of activity, history of creation, especially business, prospects, familiarization with the documents g

Recognition of deferred tax liabilities, What is the amount of tax expense?...

What is the amount of tax expense? Describe the controversy with respect to the recognition of deferred tax liabilities?

Income tax and investment calculator, Income Tax and Investment Calculator ...

Income Tax and Investment Calculator Your task is to produce a Java program, which can calculate income tax and investment growth based on the yearly income/salary of an indiv

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd