Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ratio for the annuitycscd ad the a mnountef the pe

ratio for the annuitycscd ad the a mnountef the pension to be included in gross...

70.2K

Verified Solution

Question

Accounting

image

ratio for the annuitycscd ad the a mnountef the pension to be included in gross income. 34. Peter Seaman, at age 45, purchased an annuity which will pay him $250 a month for life once he reaches age 65. He paid in $25,000. At retirement, he will have quarterly payments from the annuity. Peter receives his first annuity payment three months after the starting date (January 20). Perform the calculations and determine what amount he may exclude from gross income. What was the exclusion ratio? What was the adjusted multiple used to calculate the exclusion

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4x Classify each of these strategies under the appropriate heading Then think about taking action...

Biology
Q

Bovine Spongiform Encephalopathy Creutzfeldt Jakob Disease Kuru Gerstmann Straussler Scheinker Disease Scrapie Chronic Wasting Disease...

Biology
Q

A correlation of r 85 is found between weekly sales of firewood and cough drops...

Statistics
Q

A college entrance exam company determined that a score of 23 on the mathematics portion...

Statistics
Q

39 Which of the following is the solution to x 1 0 A 1 1...

Algebra
Q

Show that I Kirt Ief dady 120 e dx I 2TC 101

Algebra
Q

Q3. Define the Fibonacci sequence by f? = 1, f2 = 1, fn = fn-1...

Algebra
Q

the rest were trucks How many trucks visiting Lana s Car Wash on Saturday TYPE...

Algebra
Q

12. Shuttle Company issued a $10,000, three-year, 10% bond on yanusy 1,2010 . The bond...

Accounting
Q

Record all of the following transactions in the general journal. MEMORANDUM TO: Bill Bugnay MEMO...

Accounting
Q

The shareholders typically elect which of the following to represent their interests? O chief operating...

Accounting
Q

In general, which of the following is not a good reason why a firms net...

Finance