What will be his estimated retirement expenses

Assignment Help Financial Accounting
Reference no: EM132990015

Question - Edward plans to retire in 15 years. His current household expenses are $94000 per year. He estimates that when he retires, he will no longer have $4550 in monthly mortgage payments, $6900 in annual commuting expenses, and $31000 in annual budgeted 401(k) contributions. However, he does expect that his health-care costs will rise by $5600 per year and his entertainment expenses to total $8950 each year. What will be his estimated retirement expenses, in today's dollars, if using the adjusted expense method?

A. 16050.

B. 7150.

C. 60950.

D. 64850.

Reference no: EM132990015

Questions Cloud

Components in scoring and test interpretation : Identify 2 key components in scoring and test interpretation. What are some of the most important factors in selecting and administering self-report inventories
Prepare the journal entries in the books Smith Ltd : The rate of interest implicit in the lease is 12%. Prepare the journal entries in the books Smith Ltd for the years ending 30 June 2020 and 30 June 2021
Capability of business analytics in future : What is one thing you would like to see implemented as a capability of business analytics in the future?
Journalize the entry to record the first interest payment : Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method
What will be his estimated retirement expenses : Edward plans to retire in 15 years. His current household expenses are $94000 per year. What will be his estimated retirement expenses
Research haptics and technologies : Research haptics and the technologies used to create a haptic device.
Journalize the entries to record the purchase : On April 2 a corporation purchased for cash 6,000 shares of its own $11 par common stock at $26 a share. Journalize the entries to record the purchase
What amount of capital dividend each shareholder receive : August 6, 2020: Building (2 Backwater St.) $175,000 (land $55,000 and buildings $120,000). What amount of Capital Dividend will each shareholder receive
Explain the limits and possibilities of sovereignty : Explain the limits and possibilities of sovereignty - superimpose this model on your analysis

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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