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Question: Margaret is 35 years old and plans to retire at age 67. She wants an income of $67,500 per year, after tax, in today's dollars, to last until the age of 90. She anticipates her employer pension income will be $52,000 per year, before taxes, and that she will earn $12,000 from CPP and OAS (combined). Pension benefits are to be received at the beginning of each year, the average tax rate (ATR) after retirement is anticipated to be 22%, the weighted average nominal return (before inflation) during retirement is approximated at 7%, before retirement at 12%, and the average inflation is expected to be 3%. How much should she be saving at the end of each year leading up to retirement, to reach her retirement income goal? Remember to use the 7 step goal-based retirement planner and the REAL rate of return for the projections during retirement. a) $6,169 b) $6,517 c) $2,942 d) $2,296
Clifford is an 80 year old wealthy business man who will probably live another 10 years. He has vast wealth including a 10 million home in Florida and $5mm.
Mr. ZZZ suddenly remembers a savings account that was opened 70 years earlier and finds that it contains a balance of $1521.32. How much was the original balance if the interest rate remained at 5% for the whole 70 year period?
Assess the changes in the long-term solvency risk of Abercrombie & Fitch between fiscal Year 3 and fiscal Year 5 and the level of that risk at the end of fiscal Year 5. Compute the amounts of these ratios for fiscal Year 5.
What is the annualized discount and investment rate % on a Treasury bill that you purchase for $9,900 that will mature in 91 days for $10,000?
What rate of interest compounded monthly is built into the lease? Round to the nearest percent.
Evaluate and explain the implications of importing labor-intensive goods and exporting capital-intensive goods. If there are negative effects of this process
The NOI is $850,000, the debt service is $600,000 of which $550,000 is interest, the depreciation expense is $350,000, and the income tax rate is 35%.
1. Who is the main object or subject of financial inclusion? Begin your answer by saying "The Rich; or The Poor; or Both of them". Then include your reasons of
what is the source of potential agency conflicts between owners and bondholders? who is the agent and who is the
If the interest rate is 4% and they start at the end of the year when they both get bonuses from their employers, what do they have to put aside annually?
At the end of the year, the accountant estimates that 1.5% of credit sales are uncollectible. Prepare partial balance sheet at the end of year to present.
What is the accounting break-even level of revenues for a firm with $6 million in sales, variable costs of $3.9 million, fixed costs of $1.2 million, and depreciation of $1 million?
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