A $4,100 balance in a tax-deferred savings plan will grow to $ 89,070.45 in 40 years at an 8% per year interest rate. What would be the future worth if the $ 4,100 had been subject to a 22% income tax rate?.
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A $4,100 balance in a tax-deferred savings plan will grow to $ 89,070.45 in 40 years at an 8% per year interest rate. What would be the future worth if the $ 4,100 had been subject to a 22% income tax rate?.
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- Subject :- Accounting You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}V. You want to save $2,000 today for retirement in 40 years. You have to choose between the two plans listed in (i) and (ii). (i) Pay no taxes today, put the money in an interest-yielding account, and pay taxes equal to 20% of the total amount withdrawn at retirement. (In the U.S., such an account is known as a regular individual retirement account, or IRA.) (ii) Pay taxes equivalent to 15% of the investment amount today, put the remainder in an interest-yielding account, and pay no taxes when you withdraw your funds at retirement. (In the U.S., this is known as a Roth IRA.) a. What is the expected present discounted value of each of these plans if the interest rate is 1%? 10%? b. Which plan would you choose in each case? Explain your logic clearly.V. You want to save $2,000 today for retirement in 40 years. You have to choose between the two plans listed in (i) and (ii).(i) Pay no taxes today, put the money in an interest-yielding account, and pay taxes equal to 20% of the total amount withdrawn at retirement. (In the U.S., such an account is known as a regular individual retirement account, or IRA.)(ii) Pay taxes equivalent to 15% of the investment amount today, put the remainder in an interest-yielding account, and pay no taxes when you withdraw your funds at retirement. (In the U.S., this is known as a Roth IRA.)a. What is the expected present discounted value of each of these plans if the interest rate is 1%? 10%?b. Which plan would you choose in each case? Explain your logic clearly
- Required information Problem 10.039 - Retirement account calculations In wisely planning for your retirement, you invest $35,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real retum of 10% per year when the inflation rate averages 3.4% per year. Problem 10.039.a Future dollars in retirement account How many future dollars will you have in the account immediately after your last deposit? You will have $ future dollars in your account immediately after your last deposit.suppose you are planning to buy a home in 8 years from now that costs you 48854 OMR, How much should you save each year in your bank account that pays 6.012 percent to reach your goal? Select one: a. 3786.63 b. None of the options c. 483737.65 d. 4481.32 e. 4933.90Problem 03.021-Future worth calculations Lifetime savings accounts, known as LSAS, allow people to invest after-tax money without being taxed on any of the gains. If an engineer invests $14,000 now and $14,000 each year for the next 14.00 years, how much will be in the account immediately after the last deposit, provided the account grows by 12.00% per year? (Round the final answer to three decimal places.) After the last deposit, the balance in the account will be $
- Suppose you just won the state lottery, and you have a choice between receiving $4,500,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes. Select the correct answer. a. 1.83% b. 0.23% c. 1.43% d. 0.63% e. 1.03%DONT USE CHATGPT How many years would it take to obtain $20,000 if today $4,000 were deposited in a savings fund that pays an interest rate of 2% monthly?not use excel Q)Assume that you need $5,000 after completion of 4 year. Let’s examine the process to determine how much you need to deposit today if discount rate is 7%?
- Which TVM formula could you use to calculate how much you would need to have saved at retirement to be able to withdraw $100,000 each year during your retirement period if the interest rate is 6% and you want the money to last 20 years? Fundamental Capitalization Formula Uniform Series Present Value (USPV) O Uniform Series Compound Amount (USCA) O Single Payment Compound Amount (SPCA)Suppose you just won the state lottery, and you have a choice between receiving $4,500,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes. a. 1.03% b. 0.13% c. -0.77% d. 2.83% e. 1.93%4. If you receive $116 each month for 28 years and the discount rate is 0.08, what is the present value? (show the process and can use financial calculator)