Sheila has been investing for several years and has done well. She is thinking that it is time tocash in as she is looking to buy her first home. She decided to sell some of her Nvidia Inc.shares. She purchased 300 shares at $230/share in 2022, and another 450 shares at$270/share in April 2023. It is now April 8, 2024, she has just sold 600 shares for a total of$528,000 ($880.00/share).

Step 1:a) Calculate the capital gain and the taxable capital gain. 1: Calculate the average cost of…

Answered: Sheila has been investing for several…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A woman is planning for retirement in 30 years and decides she can deposit $6,000 each year on December 31 into a retirement savings plan that she expects will pay 6% interest. In 20 years she also expects to receive a small inheritance of $12,000 that she can also put into her retirement fund. The woman anticipates that her retirement fund will need to last 20 years; she estimates that she will need $60,000 at the end of each year in retirement to cover her living expenses. Her plan is flawed. How much extra does she need to save every year (rounded to dollars and cents) to achieve her goals? (Do not round interim calculations)
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Felix is keen to apply his finance knowledge to his real-life investment goals. He is currently 19 years of age and wishes to retire from full-time work at the age of 60 with $5 000 000 in his portfolio. He started contributing monthly to a NASDAQ index fund. e) Felix is now 60 years old. He wants to set up a college fund for his grandchild Salah. He is aiming to be able to pass on $150 000 in 10 years’ time. How much does Felix need to set aside today into a college fund for Salah, assuming the fund earns 7.20% per annum?
2
Mike and Emily each have invested $100, 000 in an investment account. No other contributions will be made to their investment account. Both have the sarne goal; they each want their account to reach $3,000,000 at which time each will retire. Mike has his money invested in risk free securities with an expected return of 12% compounded monthly. Emily has her money invested in a stock fund with an expected return of 15% compounded quarterly. How many years after Emily retires will Mike retire?
Please answer fast i give you upvote.
Louis is 29 years old today. He is a conservative person, and is thinking about his retirement when he reaches the age of 72. He decides to invest $8,000 at regular annual intervals for 20 years, starting from today. The fund that he is investing in will give him a return of 7.7% per annum. He will then leave the money in the account to grow further until he retires when he is 72 years old. How much will Louis have in the fund when he turns 72? a. $2,262,482 b. $2,100,726 c. $ 2,325,007 d. $2,150.79 No excel please

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