Saving with a progressive tax B D E 1 Retirement Years Income Growth Rate of Inflation...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Saving with a progressive tax B D E 1 Retirement Years Income Growth Rate of Inflation Exemption Now 2 25 0.07 0.03 3 45 Age 30 Income Deflator 10000 Exemption Tax rates in Table 21.3 F Savings Rate ROR 0.15 0.06 H rROR 0.0291 Taxes Savings Cumulative Savings rConsumption 50,000 1.00 10,000 8,000 6,300 6,300 35,700 31 53,500 1.03 10,300 8,716 6,718 13,396 36,958 9 35 70,128 1.16 11,593 12,489 8,646 51,310 42,262 19 45 137,952 1.56 15,580 32,866 15,763 248,018 57,333 29 55 271,372 2.09 20,938 76,587 29,218 731,514 79,076 39 65 533,829 2.81 28,139 186,335 52,124 1,833,644 104,970 40 Total 632,759 2,116,533 799,371 Real Annuity 37,059 41 RETIREMENT 42 Age Nom Withdraw Deflator Exemption Taxes Funds Left rConsumption 43 66 107,408 2.90 28,983 16,207 1,836,254 31,467 47 70 120,889 3.26 32,620 15,371 1,813,134 32,347 52 75 140,143 3.78 37,816 13,083 1,683,643 33,599 57 80 162,464 4.38 43,839 8,831 1,392,054 35,045 62 85 188,341 5.08 50,821 1,757 864,701 36,714 67 90 218,338 5.89 58,916 0 0 37,059 68 Total 3,916,018 227,675 sessment Tool iFrame Assume a traditional tax shelter Spreadsheet 21.6, calculate the effects of an increase of 1% in the lowest tax bracket to an increase of 1% in the highest tax bracket. Lowest tax rate Highest tax rate Real Retirement Annuity Effect Reduce Reduce Saving with a progressive tax B D E 1 Retirement Years Income Growth Rate of Inflation Exemption Now 2 25 0.07 0.03 3 45 Age 30 Income Deflator 10000 Exemption Tax rates in Table 21.3 F Savings Rate ROR 0.15 0.06 H rROR 0.0291 Taxes Savings Cumulative Savings rConsumption 50,000 1.00 10,000 8,000 6,300 6,300 35,700 31 53,500 1.03 10,300 8,716 6,718 13,396 36,958 9 35 70,128 1.16 11,593 12,489 8,646 51,310 42,262 19 45 137,952 1.56 15,580 32,866 15,763 248,018 57,333 29 55 271,372 2.09 20,938 76,587 29,218 731,514 79,076 39 65 533,829 2.81 28,139 186,335 52,124 1,833,644 104,970 40 Total 632,759 2,116,533 799,371 Real Annuity 37,059 41 RETIREMENT 42 Age Nom Withdraw Deflator Exemption Taxes Funds Left rConsumption 43 66 107,408 2.90 28,983 16,207 1,836,254 31,467 47 70 120,889 3.26 32,620 15,371 1,813,134 32,347 52 75 140,143 3.78 37,816 13,083 1,683,643 33,599 57 80 162,464 4.38 43,839 8,831 1,392,054 35,045 62 85 188,341 5.08 50,821 1,757 864,701 36,714 67 90 218,338 5.89 58,916 0 0 37,059 68 Total 3,916,018 227,675 sessment Tool iFrame Assume a traditional tax shelter Spreadsheet 21.6, calculate the effects of an increase of 1% in the lowest tax bracket to an increase of 1% in the highest tax bracket. Lowest tax rate Highest tax rate Real Retirement Annuity Effect Reduce Reduce
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Solve the initial-value problem = * sin f, y(-2) = dt
-
If the quantity of the ending inventory is larger than that of the beginning inventory will the amount of income from operations determined by absorption costing be more than or less than the amount...
-
If x is a value of a random variable having an exponential distribution, find k so that the interval from 0 to kx is a (1 ) 100% confidence interval for the parameter .
-
Why does convertible debt carry a lower coupon than straight debt?
-
Slacks.com received a bank statement from Italian Bank indicating a bank balance of $7,600. Based on Slacks.coms check stubs, the ending checkbook balance was $8,767. Your task is to prepare a bank...
-
QUESTION 4) (forced convection on a flat surface) 7.1 Engine oil at 60 oC is transmitted at a speed of 2 m/s on a 5 m long flat surface with a surface temperature of 20 oC. Find the total drag...
-
Outline the healthcare laws that protect consumers. Were you aware of your rights as a patient? Are your rights being communicated to you at your health care provider?...
-
Explain how the selection of absorbents with specific chemical functionalities can enhance selectivity and capacity in applications such as carbon capture and ammonia scrubbing. What are the key...
-
2. Does the surveillance camera present any ethical or legal problems? Why or why not? 3. Explain any other legal issues regarding employee or employer rights that might apply. 4. Do you think the...
-
What are the design considerations for absorption columns in large-scale industrial applications? Discuss the effects of tray design, packing materials, and column geometry on absorption efficiency...
-
NYK shipping line has quoted a Japanese exporter US $ 4750.00 for a 40 ft. container from Kobe to Toronto and the exporter agreed. The journey involves Ocean transportation from Kobe to Vancouver,...
-
There are two good toasters on the market today: The Super Deluxe Chromium Coated Premium Toaster ("Toaster A"), and the Aluminum Plated Cross-Hatched Toaster Extraordinaire ("Toaster B"). Each...
-
Which is(are) the LCAO(s) of the third energy level for four atoms A, B, C, and D in a square planar geometry with A and C on the x axis, and B and D on the y axis? The answer you get here may be...
-
Define the term utility software and give two examples.
-
Aristotle said, "Character is that which reveals moral purpose, exposing the class of things a man chooses or avoids." Explain what you think Aristotle meant by this statement.
-
Jackson Daniels graduated from Lynchberg State College two years ago. Since graduating from the college, he has worked in the accounting department of Lynchberg Manufacturing. Daniels was recently...
-
Explain how the cognitive-developmental approach influences one's ability to make ethical judgments.
Study smarter with the SolutionInn App