Jasmine is 53-years old and earns $115,000 annually as an employee of a marketing company (subject to FICA taxes of 7.65%). She saves 12% of her annual gross income for retirement. Jasmine will pay off her mortgage by the time she retires; her monthly payment is $1,950.21. She would like to assume the same level of Federal and State income taxes in retirement that she has today. 

Calculate Jasmine's wage replacement ratio using all available information provided to you—round to nearest %.

Answer rating: 100% (QA)

To calculate Jasmines wage replacement ratio we need to determine her expected retirement income and ... View the full answer