A 401k (and similar plans) is an investment vehicle available to most individuals to save for retirement. The benefit is that the investment is made before taxes (by payroll deduction), and interest is not taxed until the money is withdrawn. In theory, most retirees are in a lower tax bracket than when they worked. Under current laws (2016), the maximum annual contribution to all such plans in 2016 is $18,000 until age 50 and $24,000 thereafter, including the year one turns 50. Suppose that the maximum contribution is made every year for 40 years, beginning at age 25 until age 65. Required:
a. What is the future value of this retirement fund after 40 years, assuming an effective annual interest rate of 9%?
b. What effective annual interest rate is required for the future value of this investment to be $2 million after 40 years?

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.

What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2