QUESTION 10 Jordan wants to retire in 15 years when he turns 65-Jordan wants to have enough money to replace 75% of t current income less what he expects to receive from Social Security at the beginning of each year. He expect to receive $20,000 per year from Social Security in today's dollars. Jordan is conservative and wants to assunm a 6% annual investment rate of return and assumes that inflation will be 4% per year. Based on his family history, Jordan expects that he will live to be 95 years old. If jordan currently earns $100,000 per year and he expects his raises to equal the inflation rate, approximately how much does he need at retirement to fulfill hi retirement goals? $1,268,887. $2,242,055. $2,285,195 $3,057,348. QUESTION 11 Bruce is single, retired, and recelved Social Security retirement benefts of $18,00o this year. His other income consists of $15,000 from his former employer's pension plan; $10,000 in tax-exempt municipal bond interest and $1,000 in dividends. How much of Bruce's Social Security Benefit will be subject to income tax? O$5,350. $9,000. O$15,300. QUESTION 12 For persons with substantial income in addition to Social Security benefits, the beneficiary's modified adjusted gross income (MAGI) includes which of the following? O Interest earned as savings bonds used for higher education. OAmounts deducted for interest paid for educational loans. O Income earned in a foreign country that is excluded from income. All of the above