"Ron and Janice Mawson are now both 55 years old but Ron was disabled for eight years which resulted in excess medical costs so they had to refinance the house. The current mortgage is $150,000 and the house has a market value of $800,000. They also have two children aged 12 and 14 and they continue to work in their current positions.

They currently have no liabilities other than the mortgage and they continue to invest in their RRSPs on a monthly basis. Ron has grown his RRSP to $300,000 and Janice has $350,000 in her RRSP. They each contribute $800 per month to these plans and will continue to do so until their planned retirement at age 65. These registered plans are currently invested 30% income and 70% equity."

And these are the questions:

Assuming 6% annual compound growth, what will the value of Ron and Janice's RRSPs be at age 65? Show these amounts separately for both Ron and Janice. (4 Marks)

If they leave their asset allocation the same and continue to earn 6% per year what income could they each pay themselves from these plans at age 65 without encroaching on capital? Assume a 5% withdrawal rate. (4 Marks)

If they convert their RRSPs to a RRIF what is the minimum payment required based on their age 65? What is the minimum if they wait to withdraw the funds at age 72? (2 Marks)

I've answered the first question:

1.With RRSPs accounts containing $300,000.00 and $350,000 respectively, at 55 years of age, plus their monthly investment of $800.00 each, at 6% compounded annually, Ron and Janice's investments will be worth $667,233.06 and $756,775.45 after 10 years (at age 65). Ron will have total interest earned of $271,233.06 and Janice, $310,775.45.

old Question 59 of 75. Travis operates a consulting business. He uses his personal credit card for both business and personal uses. The total finance charges paid for the year were $957. Travis' total business charges on this card were 41% of all charges. What amount of interest expenses can be deducted on Travis' Schedule C? O $957 O $565 $392 10 Mark for follow upnnect Kapoor, Focus on Personal Finance 5th ed.: FINANCE FIN300 Summer 2017 instructions | help Question 22 (of 22) Save & Exit Submit What is the approximate market value of a bond that pays $150 interest each year if comparable Interest rates have dropped to 5%? O O $950 O $750 $3,000 $6,0001. Common-sized balance sheets A) Show data For companies in the same industry. 8) Show data for companies with approximately the same amount of assets. C) Show each balance sheet account as a percentage of total sales. D) Show each balance sheet account as a percentage of total assets. Q1: (Hypothetical) In IIIE total 800 students applied in MSc programs, 200 in IBF, 250 in Economics and 350 in Economics and Finance program. A test of 100 marks was conducted for admission into these degree programs. Note Following information: marks obtained by Economics students are normally distributed with mean 60 marks and SD 12marks marks obtained by Economics and Finance students are normally distributed with mean 58 marks and SD 13marks Now answer following questions: L How many of the economics students obtained marks between a 35 and 65 b. 20 and 80 C. 5 and 95 ii. Grade "A" is assigned to student who obtained marks 80 or more, how many students of Economics and finance got "A" grade? Suppose in previous MSc IBF class there were 20 students, out of which 5 were foreigners. Suppose 5 students are randomly selected for a group discussion on Islamic and Conventional Banking. What is the probability that a. Exactly three foreigners students are selected b. Less than three foreigners students are selected c. At least three foreigners students are selected d. At most three foreigners students are selectedComplete this question by entering your answers in the tabs below. Balance Sheet Balance Sheet 2018 2019 Prepare the balance sheet for the business as of December 31, 2018. Hint: Report only total equity 0n the balance sheet and remember that total equity equals the difference between assets and liabilities. "otal equity Total assets $ 0 "otal liabilities and equity $ 0 Balance Sheet 2019 >