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Assuming a Straight Annuity withdrawal schedule (no adjustment for inflation during retirement): Charles decides he will need to withdraw $250,000 per year, in order to
Assuming a Straight Annuity withdrawal schedule (no adjustment for inflation during retirement): Charles decides he will need to withdraw $250,000 per year, in order to fynd his retirement. Retirement is expected to last 20 years. Assuming a discount rate of 7.0% annually, what is Charles' Target Value for his retirement account on the day he retires? $4,276,188.01 $2,648,503.56 $3,876,899.28 $5,000,000.00 Question 34 2 pts Ricky and his wife Bobby want to give as much money as possible to their family to reduce the size of their estate. They wish to avoid gift taxes. The current federal gift tax exclusion amount is $15,000. Ricky and Bobby have 12 children and grandchildren. How much (maximum) can they transfer to their family each year without owing gift taxes? $0.00. None. $180,000 $360,000 Unilimited Ben and his wife Jennifer have a 30 year mortgage with a loan amount of $300,000 and a rate of 4.5% per year. If they refinance the loan for 15 years at a rate of 2.5%, how much will they save in total interest paid over the life of the loan? $60,066 $0.00. None. $247,220 $187,154
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