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ONLY SOLVE C,D,F WITHOUT USING SHORTCUTS AND EXCEL PLEASE SOLVE USING FORMULA MANUALLY.

ONLY SOLVE C,D,F WITHOUT USING SHORTCUTS AND EXCEL PLEASE SOLVE USING FORMULA MANUALLY.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ONLY SOLVE C,D,F WITHOUT USING SHORTCUTS AND EXCEL PLEASE SOLVE USING FORMULA MANUALLY.

blem 7.24. pay formula 25 Chaudhary Group is sponsoring 2030 retirement plan. Neeta is a senior manager of this group and her annual salary is Rs 600,000. She has to deposit 12 percent of her annual salary into this plan and her employer matches 50 percent of the first 5 percent of her earnings. Annual expected rate of return on the plan is 10 percent. Neeta is currently in the 25 percent tax bracket and the amount deposited to the plan is deductible from her taxable income. a. What is Neeta's contribution to the plan for the first year? b. What is the contribution of her employer to the plan for the first year? What is the tax saving on the contribution to the plan? What is her cost for the retirement plan? e. What is the total investment at year start? What is her one year return on this plan?
Transcribed Image Text:blem 7.24. pay formula 25 Chaudhary Group is sponsoring 2030 retirement plan. Neeta is a senior manager of this group and her annual salary is Rs 600,000. She has to deposit 12 percent of her annual salary into this plan and her employer matches 50 percent of the first 5 percent of her earnings. Annual expected rate of return on the plan is 10 percent. Neeta is currently in the 25 percent tax bracket and the amount deposited to the plan is deductible from her taxable income. a. What is Neeta's contribution to the plan for the first year? b. What is the contribution of her employer to the plan for the first year? What is the tax saving on the contribution to the plan? What is her cost for the retirement plan? e. What is the total investment at year start? What is her one year return on this plan?
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