Anya is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that the OAS clawback or her repayment would be 15% of the difference between her net income of $93,000 and the minimum threshold amount of $79,845. She currently receives an annual OAS pension of $7,512 and is wondering how much of her OAS pension she will get to keep? Ignore taxes. Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,845 $129.260 A $2,576 В $5,539 $4,582 D $1,973 $4,232

Anya is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that the OAS clawback or her repayment would be 15% of the difference between her net income of $93,000 and the minimum threshold amount of $79,845. She currently receives an annual OAS pension of $7,512 and is wondering how much of her OAS pension she will get to keep? Ignore taxes. Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,845 $129.260 A $2,576 В $5,539 $4,582 D $1,973 $4,232

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

See similar textbooks

Similar questions

Tina has saved $23000 from her summer jobs. Rather than work for a living, she plans to buy an annuity from a trust company and become a beachcomber in Fiji. An annuity will pay her a certain amount each month for the rest of her life and is calculated at 5 percent interest, compounded monthly, over Tina's 55 remaining years. Tina calculates that she needs at least $5 per day to live in Fiji, and she needs $1200 for airfare. How much would she have available to spend each day? $3.19 $4.79 $2.39 $6.38
Munabhai
In addition to these monthly expenses, other future outlays must be accounted for. Before they had a child, Yvette worked as a software engineer, but her knowledge and skills are now somewhat outdated. Therefore, they include $25,000 for Yvette to go back to school. Additionally, Tim and Yvette want to create a college fund of $30,000 to fund their child's college education. They estimate that final expenses (funeral costs and estate taxes) will amount to $12,000. Finally, they have taken out a loan for home improvements of $130,000 and an automobile loan of $5,000. They own their home but still have an outstanding mortgage of $300,000. Using this information, complete the next portion of Step 1 to determine the total financial resources needed. 2. Special needs a. Spouse's education fund b. Child's college fund c. Other needs $0 3. Final expenses (funeral costs and estate taxes) 4. Debt liquidation a. House mortgage b. Other loans c. Total debt (4a+4b) 5. Other financial needs $0…
Last year, Dani maximized her TFSA contribution limit by contributing $30,000 to her TFSA. This year, her contribution limit is $7,000. The $30,000 that Dani contributed last year has grown to $32,000. She contributed nothing this year but withdrew the entire amount of $32,000. Assuming next year's limit is also $7,000 how much can Dani contribute to her TFSA next year?
Mary, who is married and the mother of three, is 35 years and expects to work until 75. She earns $55,000 per year. Mary expects inflation to be 3% over her working life, and the appropriate risk-free discount rate is 5%. Her personal consumption is equal to 27% of her after-tax earnings, and her combined federal and state marginal tax bracket is 15%. 1) What is the amount of life insurance necessary for Mary using the Human Life Value method? Solve it correctly. I'll rate
At age 20, Kari purchased a whole life insurance policy with face value of $370,000. She is now 35 and wants to cancel her policy. Use Table 19-3 to calculate the amount of reduced paid-up insurance to which she is entitled (in $).
Your client, Karna, has asked you for some advice. He would like to know how much he can contribute to his RRSP in the current year without over contributing. Karna has a carry forward amount of $16,000 and a pension adjustment of $6,000 from the previous year. In addition Karna has been divorced for the past three years and pays $2,500 per month in alimony. Given this scenario and based on the financial information below, how much can Karna contribute this year? Base Salary Commission Bonus Investment Portfolio Capital Gains Dividends $5,000 $6,000 Total taxable income $136,000 Select one: Current Year Previous Year $85,000 $80,000 $25,000 $30,000 $15,000 $18,000 a. $29,080 b. $27,100 c. $27,640 d. $29,260 $4,000 $5,000 $137,000
Ann is single and works full-time. In 2020, Ann paid child care expenses of $6,000 for someone to care for her dependent child so that she could work. If Ann's AGI is $50,000, what is the amount of her Child and Dependent Care Expense (CDC) Credit? Assume Ann's credit percentage is 20%. Enter your answer as a positive number.
Gene, age 34, and Beth, age 32, have been married for nine years. Gene, who is a college student, works part-time and earns $1,500. Beth is a high school teacher and earns a salary of $34,000. What is the maximum amount Gene can contribute to an IRA in 2020? What is the maximum amount Beth can contribute to an IRA in 2020?
Jing is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that if her income is over the minimum threshold amount, that she must repay 15% of this different through her tax return due to the OAS clawback. The maximum monthly OAS pension in 2021 is $635.26. Jing’s net income is estimated at $75,000 for the year. Jing turned 65 years old on January 1, 2021 and has been living in Canada for 25 years. She knows that the amount she will receive is a partial monthly pension earned at the rate of 1/40th of the maximum monthly OAS pension for each year of residence in Canada after the age of 18.

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS