Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in 2021, nina contributes 14 percent of her $111,0

In 2021, Nina contributes 14 percent of her $111,000 annual salary to her 401(k) account....

70.2K

Verified Solution

Question

Accounting

In 2021, Nina contributes 14 percent of her $111,000 annual salary to her 401(k) account. She expects to earn a 9 percent before-tax rate of return. Assuming she leaves this (and any employer contributions) in the account until she retires in 20 years, what is Ninas after-tax accumulation from her 2021 contributions to her 401(k) account? (Use Table 1, Table 2.) (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

a. Assume Ninas marginal tax rate at retirement is 30 percent.

b. Assume Ninas marginal tax rate at retirement is 20 percent.

c. Assume Ninas marginal tax rate at retirement is 40 percent.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Describe how mutations cause the following diseases and specifically what the mutation is: 1) Sickle cell anemia 2)...

Psychology
1.2K views

A man and a woman both have brown eyes, but their first child has blue eyes.  What...

Biology
1.2K views

TX For The Golgi apparatus is the site of carbohydrate breakdown stores modifies and packages...

Physics
1.2K views

15 A wheel is rolling without sliding on a horizontal surface The centre of the...

Physics
1.2K views

A small object is placed at the centre of the bottom of a cylindrical vessel...

Geometry
1.2K views

Verify Euler s Formula for the polyhedron to the right Then draw a net for...

Accounting
1.2K views

Any help with solving this? Timpanogos Inc. is an accrual-method calendar-year corporation. For 2017,...

Accounting
1.2K views

The following lots of Commodity Z were available for sale during the year. Beginning inventory...

Finance
1.2K views

Paymore Products places orders for goods equal to 75% of its sales forecast in the...

Accounting
1.2K views

International business Determine the strategic positioning of the following international companies, Using (Efficiency...

Finance
1.2K views

2) The Crew is a trendy coffee shop on campus. Its common stock has a...

Accounting
1.2K views

(b) List six steps which auditors should take to minimize the danger of claims against...