Assume your gross pay per pay period is $2,300 and you are in the 28 percent tax bracket. Calculate your net pay and spendable income if you save $230 per pay period in a tax-sheltered annuity. (Do not round intermediate calculations. Round the answers to the nearest whole dollar.)
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- Your income is $10,000 over the cutoff for the next lowest tax bracket. Your average tax rate is 10%. Your marginal tax rate is 25%. You contribute $3,000 to a traditional IRA and your contribution is fully deductible, should you decide to go that way. You decide, in fact, to make this a traditional IRA. How much did your contribution actually cost you, in after-tax dollars?Age 60 61 62 63 65 66 67 64 68 69 80 81 82 70 71 83 84 85 86 87 88 89 90 72 73 74 75 76 77 78 79 Table I (Single Life Expectancy) (For Use by Beneficiaries) Life Expectancy 27.1 26.2 25.4 24.5 23.7 22.9 22.0 21.2 20.4 19.6 18.8 18.0 17.2 16.4 15.6 14.8 14.1 13.3 12.6 11.9 11.2 10.5 9.9 9.3 8.7 8.1 7.6 7.1 6.6 6.1 5.7 Age 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120+ Life Expectancy 5.3 4.9 4.6 4.3 4.0 3.7 3.4 3.2 3.0 2.8 2.6 2.5 2.3 2.2 2.1 2.1 2.1 2.0 2.0 2.0 2.0 2.0 1.9 1.9 1.8 1.8 1.6 1.4 1.1 1.0You make the following monthly payments. Your total net income (net of taxes) is $4,000. Calculate your savings ratio. Rent $600 Entertainment $300 Car payment $253 $500 Credit card payment $100 $450 Utilities $200 Gasoline $185 Groceries $250 Retirement savings $150 Student loan payment $300 O 17.80%. O 16.18%. O 29.05%. O 29.48%. You spend Save for Later Health insurance Taxes Submit An:
- Russell and Charmin have current living expenses of $66,260 a year. Estimate the present value amount of income they will need to maintain their level of living in retirement. Assume an average tax rate of 11 percent and a(n) 74 percent income replacement ratio. The estimated present value amount of income they will need to maintain their level of living in retirement is?Assume that the annuity in part (a) is a tax-deferred IRA belonging to a man whose gross income is $45,000. Use the table on the left to calculate his taxes first with and then without the IRA. Assume the man is single with no dependents, has no tax credits, and takes the standard deduction.Suppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.
- You have $780, 000 in your retirement fund. Assuming no interest is being earned, how many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? separetly Assume your gross pay per pay period is $2, 500 and you are in the 22 percent tax bracket. After taking out the income tax, and before other deductions: Calculate your after - tax pay if you put $350 per pay period in a Roth IRA. Calculate your after - tax pay if you put $350 per pay period in a traditional IRA.Suppose you are in the 25% marginal tax bracket and earn $15,000. Then a tax credit of $1500 will reduce your tax bill by how much?Can you please help me
- suppose you are in a hurry to get your income refund. if you mail your tax return, you’ll receive your refund in 5 weeks. if you file the return electronically through a tax service, you can get the estimated refund tomorrow. the service subtracts 100 dollar fee and pays you the remaining expected refund of $1956. what is the apr? what is the ear? how large does the refund have to be for the apr to be 15%?What’s the rate of return you would earn if you paid $1,500 for a perpetuity that pays $105 per year?please answer. thank youu