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stiks02 [169]
2 years ago
13

Jon, age 48, earns $65,000 per year from his employer. Jon saves $15,000 per year for retirement and pays $12,000 per year for h

is home mortgage. Given this information and considering that Jon will have eliminated his mortgage debt before retirement, what is Jon's expected wage replacement ratio during retirement?
Business
1 answer:
nikitadnepr [17]2 years ago
5 0

Answer:

50.81%

Explanation:

Wage replacement ratio is used to determine how much money an individual will need in retirement, tool for estimating retirement income needs.

Figures given:

Salary:$65,000 per year

Savings: $15000

Mortgage:$12,000

Solution

Salary: $65,000 ---⇒100%

Saving:$15000   --⇒23.8%

Tax:$4972.50     --⇒7.65%

Mortgage: $12,000 --⇒18.476%

                 $33027.50 = 50.81%

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An investment banker who earns more than $1 million a year, a food service worker who makes minimum wage, and a teacher with a s
Ivenika [448]

An investment banker who earns more than $1 million a year, a food service worker who makes minimum wage, and a teacher with a salary of $50,000 per year represent the presence of social <u>inequality </u>within society.

<h3>What is inequality?</h3>

Inequality can be defined as the way in which  income or wealth are not distributed equally  in a society as some people earn more than others.

Hence, their is the presence of social inequality within a society if a  investment banker earn $1 million a year, a food service worker makes minimum wage, and a teacher earn $50,000 per year.

Learn more about inequality here:brainly.com/question/24143597

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5 0
1 year ago
Bond issuance: 20% of total funds, requires 15% interest per year Bank loan: 60% of total funds, requires 9.5% interest per year
Anettt [7]

Answer: 28.57%

Explanation:

Average return given the variables will be;

Average rate of return = \frac{Annual net income}{Average investment}

Average rate of return = \frac{1,000,000}{\frac{7,000,000}{2} }

Average rate of return  = 1,000,000/3,500,000

Average rate of return = 28.57%

4 0
3 years ago
How do you know if you are eligible to open and make contributions to a Roth IRA?
Whitepunk [10]

Answer:

The correct answer is letter "B":You have to earn below a certain amount to make contributions .

Explanation:

A Roth Individual Retirement Account (IRA) is the type of retirement account where contributions grow tax-free and allows individuals to withdraw funds under certain conditions. <em>People are eligible to open a Roth IRA as long as their income is less than $139,000 for singles and $206,000 for married couples- </em>information that applies for the year 2020.

7 0
2 years ago
The musical instrument store estimates costs of $18,750.00 annually to carry inventory of musical instruments and accessories. t
guapka [62]
To find the value of the inventory to the nearest cent: 
Estimated costs are: $18,750
Storage costs: 12%
Interest costs: 12%
Transportation costs: 5%
Let's add the costs up: 12% + 12% + 5% = 29%  

We are solving for the value of inventory so in this case we will make that X.
X = estimated costs/interest amounts 
X = $18,750/29% 
X = $18,750/0.29
X = $64,655.17

The value of the inventory is $64,655.17

To check your work you can take $64,655.17 and multiply it by 29%
= $18,750
6 0
3 years ago
Manual simulation is limited because of the amount of real time required to simulate even one trial.
Alex73 [517]
It's true 
hope it's help:)
3 0
2 years ago
Read 2 more answers
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