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Jasmine is 53-years old and earns $115,000 a year. She saves 12% of her annual gross...

Jasmine is 53-years old and earns $115,000 a year. She saves 12% of her annual gross income for retirement. Jasmine will pay off her mortgage by the time she retires. Her monthly payment is $1,950.21. Calculate Jasmine's wage replacement ratio using the top-down approach (round to the nearest %) and using pre-tax dollars. Assume that she wants to maintain her lifestyle.

PLEASE SHOW ALL WORK, IF IN EXCEL PLEASE SHOW ALL EQUATIONS THANKS!

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Answer #1

B Particulars Amount Percentage Earnings 115000 100% Less:Savings 13800 12% Less:Payroll taxes 8797.5 7.65% Less: Payment 234

EXCEL FORMULA:

А в Percentage Particulars Earnings Less:Savings Less:Payroll taxes Less: Payment Wage Replacement Ratio Amount 115000 =C3*12

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