You make a one-time contribution of $6,000 today to your traditional IRA earning 9.50% per year. You plan to make a full withdraw in 34 years. If you are in the 24% tax bracket then, how much will you be able to withdraw after taxes? Round your answer to two decimal places (Ex. 50.00).
You make a one-time contribution of $6,000 today to your traditional IRA earning 9.50% per year. You plan to make a full withdraw in 34 years. If you are in the 24% tax bracket then, how much will you be able to withdraw after taxes? Round your answer to two decimal places (Ex. 50.00).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![You make a one-time contribution of $6,000 today to your traditional IRA earning 9.50% per year. You plan to make a full withdraw in 34 years. If you are in the 24% tax bracket then, how much will you be able to withdraw after taxes? Round your answer to two decimal places (Ex. $0.00).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa8bdba0f-2cdc-485f-acc7-66450265a984%2F7ff9adee-aa4a-4e20-b21b-2fe00e83c695%2Ftrrg5tn_processed.png&w=3840&q=75)
Transcribed Image Text:You make a one-time contribution of $6,000 today to your traditional IRA earning 9.50% per year. You plan to make a full withdraw in 34 years. If you are in the 24% tax bracket then, how much will you be able to withdraw after taxes? Round your answer to two decimal places (Ex. $0.00).
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