NO.PZ201511200300001202
问题如下:
2. In the previous question, what is Forest’s after-tax accumulation after 20 years?
选项:
A.€196,438.
B.€220,521.
C.€230,521.
解释:
C is correct.
The taxable account will accumulate to
FVcg =€50,000[(1 + r)n(1–tcg) + tcg]
=€50,000[(1.07)20(1–0.20)+0.20]
=€164,787
The tax deferred account will accumulate
FVTDA =€50,000(1 + r)n(1–Tn)
=€50,000(1.04)20(1–0.40)
=€65,734
Total=€230,521
答案对于Forest计算TDA账户中Bond的价值:
The tax deferred account will accumulate
FVTDA =€50,000(1 + r)n(1–Tn)
=€50,000(1.04)20(1–0.40)
=€65,734
我觉得这个答案有点问题,它并没有说明每年收到的Interest会再投资。
我认为每年收到的利息在账户里不会再用于投资,即5万买了一份债券组合,20年后到期,每年付息,这个产品是通过TDA账户投资的,所以我的答案是:
FVTDA =€50,000(1 + r*20)*(1–Tn)
=€50,000(*(1+4%*20)*(1-40%)
=€54000
请老师帮我看一下,是否正确。