1) If upon retirement in 25 years, you plan to invest $850,000 in a fund...
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Accounting
1) If upon retirement in 25 years, you plan to invest $850,000 in a fund that earns 6% each year, what is the maximum annual withdrawal you can make in the following 15 years?
2) Mary Watson is 24 years old and single, lives in an apartment, and has no dependents. She expects to earn $50,000 as a sales assistant. $4,500 of her wages will be withheld for year 2014. She also expected to have interest income $500. Estimate her taxable income, tax liability, and tax refund or tax owed for year 2014 based on 2014 tax rates (personal exemption for 2014 is $3,950, and standard deduction is $6,200.)
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