Emil Nelson paid $174,500 for an annuity that will pay him $1,300 per month for life. Based on Emil's age, his expected return is $405,813. This year, Emil received 12 payments totaling $15,600. How much of this total is taxable income?
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- Annuity A. Edward purchased an annuity for $30,000. The annuity will pay Edward $700 per month for 10 years. What is the exclusion ratio? How much is excluded each year? How much is taxable each year? B. Edward purchased an annuity for $120,000 when he was 64 that would pay him $700 per month for the rest of his life. What is the expected return from the contract?If Rachel invest 1700 today in a account that pays 6 percent interest compounded annually how long will it take for her to accumulate 6500 in her account. a. 25.65 b. 16.89 c. 23. 02 d. 18.05 e. 20. 52QUESTION 2 Billy Bourne makes $97574 annually. How much does Billy pay for his E.I. premium for the year? Use 2022 rates.
- 11. Sandra Bellows 65 years old purchased an annuity for $25,000. Starting at the beginning of the year, Sandra will receive $200 per month. What is the total amount that Sandra can include in her gross income from her annuity this year, if multiplier is 15.0?192 Q10 Reta had accumulated $119,875.67 in her Registered Retirement Savings Plan (RRSP). She turned 71, and as required by Canadian tax law, converted her RRSP into a Registered Retirement CLR 11 L12 Obj. 6 Income Fund (RRIF). The RRIF will pay her an annuity of $1,800 at the 193 end of every month for 9 years. 194 What is the nominal annual rate of interest? 195 Use Excel or your programmable calculator to solve this problem! 196 197 198 199 200 201 202Accounting Q1: Randall receives a $4,200 monthly payment from a registered annuity. He calculates that 65.2% of the payment is a return of capital and the rest is interest. What portion of the payments would be taxable? Q2: Tony earned $80,000 last year, and there was a $4,800 pension adjustment. He will earn $84,000 this year. How much can he contribute to his RRSP this year, and what is his taxable income this year ?
- Question 13 Sinazo inherits R65 000 from her mother. She invests the money in a savings account. The interest rate is 12,5% p.a. compounded monthly for 18 months, and it is then increased to 14,2% p.a. compounded quarterly. At the end of 2 years he deposits R15 000. Calculate how much money she has in his savings account at the end of 5 years. OA.R151 853,11 OB. R104 853,11 OC.R150 448,66 OD.R143 841,82Accounting Question 4. Today is Mr. Wang's 30th birthday. He plans to retire on his 65th birthday. Assuming that Mr. Wang will deposit $20000 into the investment account at the beginning of each month from today, the account will earn an actual return of 4.9070208% every year in the first 15 years and 4.8% every year and interest every month in the next 20 years. The first contribution is paid today and the last contribution is paid one month before the day of retirement on your 65th birthday. a) Try to find an account balance on your 65th birthday b) Try to calculate total interest earned c) Try to calculate the total single interest d) Try to calculate compound interestQUESTION 9 Two years ago, Donald invested $1,560.00. He has earned and will earn compound interest of 8.76 percent per year. If Virginia invests $1,640.00 in 1 year from today and earns simple interest, then how much simple interest per year must Virginia earn to have the same amount of money in 6 years from today as Donald will have in 6 years from today? Answer as an annual rate. O A rate equal to or greater than 38.20% but less than 58.20% O A rate less than 17.73% or a rate greater than 60.11% O A rate equal to or greater than 18.69% but less than 38.20% O A rate equal to or greater than 17.73% but less than 18.69% O A rate equal to or greater than 58.20% but less than 60.11%
- Mr. Bearer may choose to take a lump-sum payment of $25,292.8 now from his insurance policy or an annuity of $3,200 annually as long as he lives. How long must Mr. Bearer anticipate living for the annuity to be indifferent to the lump sum if interest rate is 8%? a. 13 years b.15 years c. 11 years d. 9 yearsQuestion 7 Mike has retired and has invested in the following annuity scheme: Investment: $250,000 Duration: 20 years Interest compounded monthly Monthly payment from the scheme: $1,791.08 If he has invested the same amount of money in a perpetuity scheme, that pays the same rate of interest per annum, compounded monthly, the monthly payment would be A $1,200 B $1,300 C $1,100 D $1,250Present Value of an Annuity Ralph Benke wants to make 8 equal semiannual withdrawals of 8,000 from a fund that will earn interest at 11 % compounded semiannually. Required: How much would Ralph have to invest on: 1. January 1, 2019, if the first withdrawal is made on July 1, 2019 2. July 1, 2019, if the first withdrawal is made on July 1, 2019 3. January 1, 2019, if the first withdrawal is made on January 1, 2022