Calculate the dollar amount of ira distribution

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Reference no: EM133335809

Question: An investor makes a nondeductible (after-tax) contribution of $1,369 to a traditional IRA. The IRA contribution grows at 4.17 percent after-tax rate of return compounded annually for 11 years when it is distributed. The distribution is subject to a 22 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.

Reference no: EM133335809

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