2. How many social security credits have you earned based on the 5 years of earnings broken down b Year 1 = $1000 Year 2 $50,000 Year 3=$55,000 Year 4 = $5000 Voor 5 $2800
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- Economic Q) You start a savings account (Tax Free) on your 20th birthday – You earn 7% interest on the balance – compounded monthly 1. From age 20 – 35 – You deposit $25 monthly 2. From age 35 – 50, you deposit $100 monthly 3. From age 50 – 65 you deposit $200/month a. How much money will you have at age 65? If you were to draw money out – to use it all (while still getting 7% interest) to age 90 – What would your monthly income be? It's better to show how this can be solved using Excel. Thank you!What is the value of your money at year 3 if you have 1,200$ today and 1,500$ at year 5? (r= 7.12%)Accounting Q1: Randall receives a $4,200 monthly payment from a registered annuity. He calculates that 65.2% of the payment is a return of capital and the rest is interest. What portion of the payments would be taxable? Q2: Tony earned $80,000 last year, and there was a $4,800 pension adjustment. He will earn $84,000 this year. How much can he contribute to his RRSP this year, and what is his taxable income this year ?
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