I WII have the largest negative impact on the family's expected contribution calculation Jamal and Chyna Gwynn 6. Your clients, Jamal and Chyna Gwym, would like you to determine if they are on track to meet the education funding objective of their sonur Jaries is currently 13 years of are. Jamal and Chys have high hopes for Jarsus's future education. Use the following data to determine whether or not Jumaland Chyna need to save more to fund Jarius's educational need Combined federal and state marginal tax bracket: 29 percent . After-tax rate of return before college: 7.90 percent Before tax rate of return of 529 plan: 9.75 percent Rate of return on educational assets after college begins: 5 percent College expense inflation rate: 4 percent Year Jarius begins college: Age eighteen Number of years in college: four years Yearly cost of college today: 560,000 After tax assets earmarked for Jarius's education: $25,000 529 plan assets earmarked for Jarius's education: 560,000 After tax educational annual savings: 50 Annual tax advantaged educational savings $18,000 Annual education savings growth rate: 3 percent . . Approximately how much will Jamal and Chyna need press meed) on laius's first day of college? b. After accounting for the future value of assets and savings, how much additional if any) do Jamal and Cly d erius's first day of college ? c. Based on your answer to the question above, how much mal and Chyna save a lly in the 529 plan to meet the educational vil d. If instead, Jamal and Chyna decide to save outside of a 529 plan orodus tax advantaged plan, how much they teach year? Chapter Resources We're updated of readed for Give yere - Aa to la c. What options does Whitney's grandfather have in relation to the 529 planif, in fact, Whitney colleges $35.000 and Whitney relies entirely on the 529 place d. If Simon needs to use his 401(k) assets to help fund college expenses for Whatney, how much may be borrowed from the account det er tax law! e. What, if any, education tax credits may Simon claim on his federal tax re t e te Whey's colles expenses? f. Which of the assets listed will have the largest negative impact on the family's expected contribution calculation? ! mal and Chyna Gwynn Your clients, Jamal and Chyna Gwynn, would like you to determine if they are on track to meet the education funding objective of their son Jarius Jarius is currently 13 years of age. Jamal and Cly hopes for Jarius's future education. Use the following data to determine whether or not Jumaland Chyna need to save more to fundarias educational red Combined federal and state marginal tax bracket 29 percent After-tax rate of return before college: 7.90 percent Before-tax rate of return of 529 plan: 9.75 percent Rate of return on educational assets after college beispercen College expense inflation rate: 4 percent Year Jarius begins college: Age eighteen Number of years in college: four years Yearly cost of college today: $60,000 After-tax assets earmarked for Jarius's education: $25,000 529 plan assets earmarked for Jarius's education: $60,000 After-tax educational annual savings: 50 Annual tax-advantaged educational savings: $18,000 Annual education savings growth rate: 3 percent a Approximately how much will Jamal and Chyna need (gross need on a first day of college? b. After accounting for the future value of assets and savings, how much additional (if any) do Jamal and Chysa need on Jarius first day of college? c. Based on your answer to the question above, how much must Jumal and Chyne save mually in the 529 plan to meet the educational saving goal? d If instead, Jamal and Chyna decide to save outside of a 529 plan or other tax-advantaged plan, how much must they see each year! I WII have the largest negative impact on the family's expected contribution calculation Jamal and Chyna Gwynn 6. Your clients, Jamal and Chyna Gwym, would like you to determine if they are on track to meet the education funding objective of their sonur Jaries is currently 13 years of are. Jamal and Chys have high hopes for Jarsus's future education. Use the following data to determine whether or not Jumaland Chyna need to save more to fund Jarius's educational need Combined federal and state marginal tax bracket: 29 percent . After-tax rate of return before college: 7.90 percent Before tax rate of return of 529 plan: 9.75 percent Rate of return on educational assets after college begins: 5 percent College expense inflation rate: 4 percent Year Jarius begins college: Age eighteen Number of years in college: four years Yearly cost of college today: 560,000 After tax assets earmarked for Jarius's education: $25,000 529 plan assets earmarked for Jarius's education: 560,000 After tax educational annual savings: 50 Annual tax advantaged educational savings $18,000 Annual education savings growth rate: 3 percent . . Approximately how much will Jamal and Chyna need press meed) on laius's first day of college? b. After accounting for the future value of assets and savings, how much additional if any) do Jamal and Cly d erius's first day of college ? c. Based on your answer to the question above, how much mal and Chyna save a lly in the 529 plan to meet the educational vil d. If instead, Jamal and Chyna decide to save outside of a 529 plan orodus tax advantaged plan, how much they teach year? Chapter Resources We're updated of readed for Give yere - Aa to la c. What options does Whitney's grandfather have in relation to the 529 planif, in fact, Whitney colleges $35.000 and Whitney relies entirely on the 529 place d. If Simon needs to use his 401(k) assets to help fund college expenses for Whatney, how much may be borrowed from the account det er tax law! e. What, if any, education tax credits may Simon claim on his federal tax re t e te Whey's colles expenses? f. Which of the assets listed will have the largest negative impact on the family's expected contribution calculation? ! mal and Chyna Gwynn Your clients, Jamal and Chyna Gwynn, would like you to determine if they are on track to meet the education funding objective of their son Jarius Jarius is currently 13 years of age. Jamal and Cly hopes for Jarius's future education. Use the following data to determine whether or not Jumaland Chyna need to save more to fundarias educational red Combined federal and state marginal tax bracket 29 percent After-tax rate of return before college: 7.90 percent Before-tax rate of return of 529 plan: 9.75 percent Rate of return on educational assets after college beispercen College expense inflation rate: 4 percent Year Jarius begins college: Age eighteen Number of years in college: four years Yearly cost of college today: $60,000 After-tax assets earmarked for Jarius's education: $25,000 529 plan assets earmarked for Jarius's education: $60,000 After-tax educational annual savings: 50 Annual tax-advantaged educational savings: $18,000 Annual education savings growth rate: 3 percent a Approximately how much will Jamal and Chyna need (gross need on a first day of college? b. After accounting for the future value of assets and savings, how much additional (if any) do Jamal and Chysa need on Jarius first day of college? c. Based on your answer to the question above, how much must Jumal and Chyne save mually in the 529 plan to meet the educational saving goal? d If instead, Jamal and Chyna decide to save outside of a 529 plan or other tax-advantaged plan, how much must they see each year