Answer:
The amount that you should have saved in your retirement account to receive this income is:
= $727,995.88.
Explanation:
a) Data and Calculations:
Expected lifespan = 24 years
Expected annual income = $75,000
Interest rate per year = 9%
The amount of savings in the retirement account to receive this income is calculated from an online financial calculator as follows:
N (# of periods) 24
I/Y (Interest per year) 9
PMT (Periodic Payment) 75000
FV (Future Value) 0
Results
PV = $727,995.88
Sum of all periodic payments = $1,800,000.00
Total Interest = $1,072,004.12
Answer:
$60
Explanation:
An individual buys stock at $40 per share. Many years later, the individual dies when the market value is $60. The estate distributes the shares to a beneficiary when the stock is worth $70. Therefore the cost basis to the beneficiary is
The cost basis by definition is usually equal to the fair market value of the property or asset at the time of the decedent's death or when the actual transfer of assets was made.
However for the purpose to be served to reduce the tax due on the inheritance, we have chosen to opt for the fair market value of the property or asset at the time of the decedent's death which is $60
Answer:
I am from Long Island but live in NC
Explanation:
The largest amount of money the government lays out is for the transfer program, Social Security. And its largest expenditure is for national defense. America is quite known for spending a lot of money on defending itself from any possible threat.
Answer:
Capability ratio = 1.04166
Explanation:
Given:
Length of a shoe (not deviate) = 1 mm
Standard deviation of this length = 0.32 mm
Number of standard deviations = 3
Find:
Capability ratio = ?
Computation:
Capability ratio = [Length of a shoe (not deviate) / Standard deviation of this length] / Number of standard deviations
Capability ratio = [1 / 0.32] / 3
Capability ratio = 3.125 / 3
Capability ratio = 1.04166
Capability ratio is greater than 1, therefore process is capable.