RMI 211 - Homework for Chapters 11 12 DW

QUESTION 16 A 401 (k) Plan: O A. is a mandatory retirement program. B. is not a very effective way of achieving your retirement goals. O C. is funded fully by your employer as a retirement benefit for you. O D. is a defined benefit retirement program. O E. None of the above. QUESTION 17 Which of the following is most true regarding retirement planning? A. You can expect public sources to fund most of your retirement needs. O B. Ownership for retirement planning has shifted more from employers and government to individuals. O C. You do not need to worry about funding your retirement from multiple sources. O D. Retirement planning should be delayed until you are at least 30 years old or own your own home.

QUESTION 27 Personal sources for funding your retirement could include all of the following, except: O A. Roth IRA B. TraditionalIRA O C. Pension D. Savings E. Stocks and Bonds

Business 123 Introduction to Investments May I please have the solution for the following writing exercise? Thank you

4-11A • LO 1 See Figure 4.3 on page 4-9, Example 4-1 on page 4-8 George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: a. What is the maximum that he can contribute into this retirement fund? 2$ b. What would be the company's contribution? 2$ c. What would be his weekly take-home pay with the retirement contribution deducted (married filing jointly, wage-bracket method, and a 2.3% state income tax on total wages)? 2$ d. What would be his weekly take-home pay without the retirement contribution deduction?

Qd 92.

D Question 21 Based on your answer from question 20, how much life insurance do you need to purchase under desired income method? O $1,080,981.2 O $1,549,145.6 $2,400,912.4 O $2,040,816.3 2.5 pts

Problem 12-9 Estimating Life Insurance Needs Using the DINK Method [LO12-2] You are a dual-income, no-kids family. You and your spouse have the following debts: Mortgage = $260,000; Auto loan = $11,500; Credit card balance = $2,250; and other debts = $6,500. Further, you estimate that your funeral will cost $6,000. Your spouse expects to continue to work after your death. Using the DINK method, what should be your need for life insurance? Answer is complete but not entirely correct. Total insurance need $ 146,125 ×

Problem 12-7 Calculating the Amount of Life Insurance Needed Using the Easy Method [LO12-2] Suppose that yours is a typical family. Your annual income is $55,000. Using the easy method, what should be your need for life insurance? (Do not round intermediate calculations.) Life insurance need $ 26,950

es Problem 5-60 Future Value and Multiple Cash Flows [LO 1] An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for child at the child's birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company: Check my wor First birthday: Second birthday: Third birthday: Fourth birthday: Fifth birthday: Sixth birthday: After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $360,000. If the relevant interest rate is 12 percent for the first six years and 7 percent for all subsequent years, what is the value of the policy at the child's 65th birthday Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Child's 65th birthday $ 760 $ 760 $ 860 $ 860 $ 960 $ 960

A2 7 b 7. You are making plans for your retirement. You have just turned 30 and want to retire on your 65th birthday. Once retired, you plan to move to a tax-free Caribbean state, where you believe you can live comfortably on your retirement savings. You plan to make your first withdrawal from your retirement savings when you retire at age 65 and your last withdrawal one month before your 85th birthday. Based on family history, you expect to live until exactly age 85. Your plan is to have a total of $1 million when you retire. Your current salary is $36,000 per year, or $3,000 per month. Your personal tax rate is approximately 30%. You estimate that you can earn an average return of 12% APR compounded annually on any money you invest over the next 60 years. You want to start putting aside a fixed amount of money at the end of every month until your retirement at age 65. You will make your first deposit one month from now and your last deposit on your 65th birthday.…

Subject: acounting

Section 2 of 4 Section 2_1v 11 12 13 14 15 16 17 18 19 20 18 of 25 Question # 18 A Report a Problem Choose the best option Revisit Mr Raman has three minor kids whose interest income is (Rs-2500, Rs 3500, Rs 4500)clubbed in his hand How much amount in totality he can claim as exempt under section 10 (32) O 3000. O 4000 O 4500 O Nil Deepanshu | Support +1 650-924-9221 +91 80 4719 0917 = metti P Type here to search

Business 123 Introduction to Investments May I please have the solution for the following writing exercise? Thank you

10:21 Exploring Annuities [DIR... • Sheet 3- Time Comparison 1. At the bottom of the page, click on Sheet 3. If you're using Google Sheets, you can add a 3rd sheet. Rename it "Time Comparison". On this sheet, we're going to look at two individuals that are paying into annuities for their retirement fund. We want to attention to when eac. these paying into their annuity. 2. Type "Age - stats of saving" in cell A2. 3. Type "Payment Amount (P)" in cell A3. 4. Type "Rate (i)" in cell A4. 5. Type "Number of Payments per year (n)" in cell A5. 6. Type "Years to retire at 65 (t)" in cell A6. Again, find some reasonable values for payment amount, interest rate, and number of payments. 7. In cell B1, type "Tommy". Then enter his age, "45", in cell B2. 8. In cell C1, type "Sammy". Then enter his age, "25", in cell C2. a. NOTE: Pick whichever names you'd like. 9. Enter the amounts you chose for payment, rate, and frequency in cells B3 thru B5. These amounts should be the same for C3 thru CS. 10.…

Arr OM Q₁ Question 46 of 50. Saving for education expenses is an important financial goal for many families. Taxpayers often seek tax-advantaged ways to fund education costs for their children, grandchildren, or other beneficiaries. All of the following are savings vehicles that enable investment earnings to grow tax-free when the funds are used to pay qualified education expenses EXCEPT: O Coverdell Education Savings Account. O Education Savings Bond Program. O Qualified tuition program. O Target-date mutual fund held in a standard investment account. Mark for follow up

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