Mena has year-to-date (YTD) earnings of $125,200. If her next paycheck put her above the wage base limit of $128,400, what will be the amount of the social security deduction at 6.2 %? a. $788.76 b. $128.20 c. $198.40 d. $204.60
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Mena has year-to-date (YTD) earnings of $125,200. If her next paycheck put her above the wage base limit of $128,400, what will be the amount of the social security deduction at 6.2 %?
a. $788.76 b. $128.20 c. $198.40 d. $204.60
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- A person is 71 and earning $23000 a year at a part time position, how much of their allotted $12000 yearly social security payments would they recieve?Jeni has decided that she needs to start saving for her retirement. She can afford $100 a month deducted automatically from her paycheck. She deposits it into an account that earns 4.5% interest compounded monthly. How much will she have in her account when she retires 42 years later? A. $ 14,922.70 B.$ 50,400.00 C. $132,213.00 D. $149,226.96Sara wants to have $530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time? OA. $112,357 OB. $202,243 OC. $119,492 O D. $157,300
- 0. Assume that upon graduation you make$63,500per year. What are the legally required costs for Social Security, Old-age, Survivors, and Disability Insurance, \& Medicare for the firm you work for in both dollar values and percentages? How much will you have to pay yourself? How much would you pay if you were self-employed earning the same amount?Annalise will deposit into her investment account $4,500, $1,000, and $5,500 at the end of Years 1, 2, and 3, respectively. What will her account be worth at the end of the Year 3 if she earns an annual rate of 6.15 percent? O $11,632.02 O $10,381.25 O $9,725.12 O $11,526.50 None of these answers are correctIn 2013, workers earned one credit towards Social Security for every $1,160 in earnings, up to a maximum of four credits per year. Jeni earns $4,350 per year at her part-time job. At this rate, how long will it take her to be eligible for Social Security benefits? Answers A.11 years B.10 years C.15 years D.14 years
- Assume that A contributes $2 000 every end of the year into a retirement account paying 8%. If A retires in 30 years, how much will she have? Select one: a. $226 566 b. $216 566 c. $206 566 d. $236 56611. During 2020, a person receives Social Security at age 63 and is earning $23,000/year at a part-time position, how much of their allotted $12,000 yearly Social Security payments would they receive? Assume $12,000 is the amount after deducting the early withdraw penalty. Question 14 2 pts 12. From the question above, now assume the individual is 71 years old. How much of the yearly $12,000 would they receive while still earning $23,000 from their part-time position?You have to decide whether or not to participate in the employer match program at your work. If you place 8% of your gross pay into a retirement account, your employer will match it. You plan to retire in 30 years. You expect to earn 6% return on your investment. How much will you have in the account if your average annual gross salary is $50,000? A. $316,232.80 B. $22,973.96 C. $45,947.92 D. $632,465.60 Using the same information as the previous question, assume that you want to increase your portion of the contribution to 10%. The employer will only match up to 8%. How much would you have in this situation? A. $692,523.80 B. $711,523.80 C. $316,232.80 D. $632,465.60
- In 2012 the maximum Social Security deposit by an individual was $8,386.75. Suppose you are 27 and make a deposit of this amount into an account at the end of each year. How much would you have (to the nearest dollar) when you retire if the account pays 2% compounded annually and you retire at age 65?_____$Lily earns $80,000 a year and saves 14% of her annual gross income. Assume that Lily wants to maintain her exact pre-retirement lifestyle. The current FICA payroll tax rate is 7.65%. Calculate her wage replacement ratio using the top-down approach (round to the nearest %) and using pre-tax dollars. A. 78% B. 70% C. 92% D. 86%An employee wants to retire and receive P 5 000 a month. She wants to pass this monthly payment to future generations after her death. She can earn an interest of 8% compounded annually? How much will she need to set aside to achieve her perpetuity goal?