15. Craig receives a pension income of $2200 per month. He lives in a payment is $688 per month. The common fees associated with the condominium are $350 per month. He also receives a bi-monthly electricity bill for $120 and a quarterly water bill for $96. On average, what percent of his income, does Craig spend on monthly accommodations expenses? Round your answer to the nearest percent. 51% a. b. 49% 55% d. 53% C.

15. Craig receives a pension income of $2200 per month. He lives in a payment is $688 per month. The common fees associated with the condominium are $350 per month. He also receives a bi-monthly electricity bill for $120 and a quarterly water bill for $96. On average, what percent of his income, does Craig spend on monthly accommodations expenses? Round your answer to the nearest percent. 51% a. b. 49% 55% d. 53% C.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Juanita paid a life insurer $60,100 in exchange for an immediate life annuity. Juanita will receive $600 per month from the insurer, and her life expectancy is 14 years. Assume that Juanita receives 12 monthly payments in the first year. How much taxable income must she report? (Round your answer to 2 decimal places)
40. Jim has earned an average of $3,290 per month over his lifetime. He is planning to retire at 66, the full retirement age for his year of birth. Using the formula of calculating Social Security as 90% of earnings of the first $680 and 32% of earnings over $680. calculate Paul's monthly retirement benefit. A. $1,052.80 B. $2,961.00 C. $1,447.20 D. $3,655.56
Carl’s house payment is $2,280 per month and his car payment is $780 per month. If Carl's take-home pay is $4,800 per month, what percentage does Carl spend on his car payment? Note: I am not sure how to enter the answer as a percent rounded to 2 decimal places.
Hailey starts an IRA (Individual Retirement Account) at the age of 22 to save for retirement. Shedeposits $450 each month. The IRA has an average annual interest rate of 8% compounded monthly.How much money will she have saved when she retires at the age of 65? Round your answer to thenearest cent, if necessary.
Carrie, age 55, is an employee of Rocket, Inc. (Rocket). Rocket sponsors a SEP IRA and would like to contribute the maximum amount to Carrie’s account for the plan year. If Carrie earns $14,000 per year from Rocket, what is the maximum contribution Rocket can make on her behalf to the SEP IRA? a. $3,500. b. $14,000. c. $19,500. d. $57,000.
Amy earns an income of 50,000 this year as an employee of rooster enterprises. She pays the following amounts during the year: Contribution to Traditional IRA : 5000 PreTax Cuts and Jobs Act Alimony she paid to her ex husband: 10,000 Medical expenses: 6000 What is Amy's Adjusted Gross Income? (AGI) a. 29000 b. 34000 c. 35000 d. 39000
Jon, age 48, earns $65,000 per year from his employer. Jon saves $15,000 per year for retirement and pays $12,000 per year for his home mortgage. Given this information and considering that Jon will have eliminated his mortgage debt before retirement, what is Jon's expected wage replacement ratio during retirement? A. 16%. B. 81%. C. 46%. D. 89%.
Q- if Russell's annual earnings are $47500, what is his semi-monthly pay, rounded to the nearest dollar? Q- Danya is in grade 12 and works weekends and after school as a cashier at the dollar store, earing $17.00/h. She works an average of 27 hours per week. Her average bi-weekly pay, rounded to the nearst dollar is?
Seanna O'Brien receives pension payments of $3, 100 at the end of every six months from a retirement fund of $ 47,000. The fund earns 8% compounded semi - annually. (a) How many payments will Seanna receive? (b) What is the size of the final pension payment?
Paul intends to retire in 15 years and would like to receive $1,500 every month for 20 years, starting at the end of the first month in which he retires. How much must he have at the beginning of retirement if interest is 5% compounded annually? Select one: a. $191,834.03 b. $229,415.16 c. $228,235.00 d. $227,287.97 e. $230,349.83
You have to decide whether or not to participate in the employer match program at your work. If you place 8% of your gross pay into a retirement account, your employer will match it. You plan to retire in 30 years. You expect to earn 6% return on your investment. How much will you have in the account if your average annual gross salary is $50,000? A. $316,232.80 B. $22,973.96 C. $45,947.92 D. $632,465.60 Using the same information as the previous question, assume that you want to increase your portion of the contribution to 10%. The employer will only match up to 8%. How much would you have in this situation? A. $692,523.80 B. $711,523.80 C. $316,232.80 D. $632,465.60
Your employer contributes $500 per month, at the beginning of each month, to a retirement fund on your behalf. The contributions earn interest at a rate of 6% per year, compounded monthly. At the end of twenty years, what will be the balance of the fund? Group of answer choices $69,790 $232,175 $70,139 $220,713 $231,020

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