Agree or disagree and explain your answer.
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If you earned $80, 000 this year, you would pay more CPP than your brother, who earned $ 60,000. Agree or disagree and explain your answer.
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- If you earned $130,000 this year, you would pay more OASDI and Medicare than your partner who earned $75,000. Do you agree or disagree? Please provide calculations to support your answerSam Smith is currently employed as a mechanical engineer and is paid$65,000 per year plus benefits that are equal to 30 percent of his salary. Sam wants to begin a consulting firm and decides to leave his current job.After his first year in business, Sam’s accountant informs him that he hasmade $45,000 with his consulting business. Sam also notices that he paid$6,000 for a health insurance policy, which was his total benefit during hisfirst year. What was Sam’s opportunity cost?Suppose that Thomas Lee is enrolled in a defined contribution plan in which the employer contributes $8,000 each year. Thomas is earning $80,000 this year and his tax rate is 30 percent (which is not expected to change). Assume that the before- tax rate of return is 8 percent. (a) What is the additional amount of funds that Thomas will have when he reaches retirement in 10 years as a result of this year's service? (b) Suppose that Thomas's employer is planning to reduce half of their contribution to the defined contribution plan. Assume that Thomas would like to keep his retirement funds the same as they would have been with the defined contribution plan. If Thomas's only opportunity to save for retirement is in a nonqualified savings plan (no tax benefits), how much would Thomas need to receive in additional salary (which he would then save) to achieve his objective?
- Ryan, an agent, was able to sell Mikoy Frozen Products worth 50,000.00. Given her commission of 10%. How much will he receive if his earnings are based on commission alone?After graduation, you have been offered an engineering job with a large company that has offices in Tennessee and Pennsylvania. The salary is $55,000 per year at either location. Tennessee’s tax burden (state and local taxes) is 6% and Pennsylvania’s is 3.07%. If you accept the position in Pennsylvania and stay with the company for 10 years, what is the FW of the tax savings? Your personal MARR is 10% per year.Wayne will need $1,250,000 in his retirement fund in 40 years at the time of his retirement. If Wayne can earn 8% annually over this period, how much does Wayne need to save annually to meet that goal? ( Round the answer to the nearest dollar.)
- Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. He now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. How many years will it take to exhaust his funds, i.e., run the account down to zero?A recent government study reported that a college degree is worth an extra Php23000 per year in income (A) compared to what a high-school graduate makes. If the interest (i) is 6% per you and you work for 40 years (N), what is the future compound amount (F) of this extra income?Suppose you have $4,000,000 when you retire and want to withdraw an equal amount each year for the next 35 years. How much can you withdraw each year if you earn 8% and 12%?
- Barry wants to re-model the store that he has for his business. His cousin Diego agrees to give him $100,000, but asks for 10 percent of the profits in return. Joseph's father William is reluctant to put his own money into the business, but finally agrees to lend $100,000 to him at an interest rate of 5 percent per year, with interest to be paid every month. The agreement is put in writing. What most accurately describes these arrangements?Ali spent $850,000 to buy an apartment building. After deducting all operatingexpenses, real estate taxes, and insurance, he receives $69,010 in the first year, $65,003 in the second year, $65,070 in the third year, and $85,000 in the fourth year. Calculate the average rate of return, and conclude your results with your comments about the ARR for the given situation.ms. cruz can buy a piece of property for 6,500,000 cash or 4,000,000 down payment and 4,200,000 in five years if she has money earning 8% converted quarterly, which is a better purchased plan and by how much?
