Nikolai is 74 years old and is only now about to retire. If the current maximum monthly C P retirement benefit payable atage 65 is $1,154.58 and Nikolai applies to receive his CPP pension this month, how much will Nikolai receive in monthlybenefits?O a) $1, 154.58 O b) $1,570.230c) $1,639.50 ⚫d) $2,027.44

To determine how much Nikolai will receive in monthly benefits when he applies for his CPP (Canada…

Answered: Nikolai is 74 years old and is only now…

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

J'Mal wishes to retire at age 65. At the age of 21, he begins depositing $35 per month into an account earning 8.5% AAPR. How much money will he have when he turns 65?
You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $50,000 today or receive payments of $641 a month for 10 years. You can earn 6.50% on your money. What option should you take and why?
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Pietr is 22 years of age. He is currently a GBC student and is working part-time while completing his studies. His earnings in 2021 were $3,420. What will be Pietr's pensionable earnings amount? $0 $3,420 $3,500 There is not enough information provided to calculate Pietr's pensionable earnings amount
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Damian is age 79. He purchased a single life annuity contract that will pay him $4,000 per month for life. The expected return on the contract is: $936,000. $480,000. $40,000. $518,400.
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Anny’s full retirement age is 66 years and 2 months. Her PIA at full retirement age is $1200. She wants to retire early and receive the benefit at age 63. (a). How many months does she retire earlier than full retirement age (in months). __________months (b).What's the percentage of reduction in her retirement benefit (in %, keep two decimals if applicable). __________% (c). What’s her monthly benefit if she retires early and starts to receive the benefit at age 63 (in $, keep two decimals if applicable)? $_____________
D’von works for a company that matches his 401(k) retirement contributions at a rate of “$0.50 per $1” of his contributions, up to 6% of his salary. D’von earns $60,000/year. Using Uncle Al’s advice, what is the minimum amount of salary that D’von should contribute to his 401(k) plan each year? A. $3,600 B. $7,200 C. $9,600 D. $18,000
D3)

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