Ralph, a 40-year-old nurse who earns $80,000 a year, saves 14% of his annual gross income....
Ralph, a 40-year-old nurse who earns $80,000 a year, saves 14% of his annual gross income. Assume that Ralph wants to maintain his exact pre-retirement lifestyle. Calculate Ralph’s wage replacement ratio using the top-down approach (round to the nearest %) and using pre-tax dollars.
PLEASE SHOW ALL WORK, IF IN EXCEL PLEASE SHOW ALL EQUATIONS THANKS!
Homework Answers
The calculation of wage replacement ratio is shown below:
The resultant figures are shown below:
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