You have 40 years left until retirement and you want to retire with $3,350,000 saved. you plan to deposit 400 dollars into the account each month beginning one month from today. you currently have $10,000 saved.

calculate the rate of return (apr) you would have to earn to reach your retirement goal. (enter percentages as decimals and round to 4 decimals)

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.