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).

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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).
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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