How soon will the fund be exhausted if debbie withdraws
Debbie has $571,812 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $60,000 each year?
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Income tax return shows taxes currently payable for 2010 of $75,000. The company reported deferred tax assets of $30,000 at the end of 2009 and $20,000.
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In the month of March, New Day Spa services 570 clients at an average price of $120. During the month, fixed costs were $21,000 and variable costs were 65% of sales.
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