The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 408 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016

Show transcribed image text Anne-Marie and Yancy calculate their current living expenditures to be $61,000 a year. During retirement they plan to take one cruise a year that will cost $5.000 in today?s dollar& Anne-Marie estimated that their average tax rate in retirement would be 12 percent- Yancy estimated their Social Security income to be about $19,902 and their retirement benefits are approximately $30,628. Use this information to answer the following questions: a. How much income. in today?s dollars. will Anne-Marie and Yancy need in retirement assuming 70 percent replacement and an additional $5,000 for the cruise? b. Calculate their projected annual income shortfall in today?s dollars. t. Determine, in dollars, the future value of the shortfall 26 years from now, assuming an inflation rate of 5 percent d. Assuming a nominal rate of return of 9 percent and 19 years in retirement calculate their necessary annual investment to reach their retirement goals. a. The pre-tax amount, in today?s dollars, that Anne-Marie and Yancy will need in retirement assuming 70 percent replacement and an additional $5,000 for the cruise is $ (Round to the nearest dollar
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll