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Calculate the dollar amount of ira distribution the investor

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Reference no: EM132911342

Problem 1: An investor makes a nondeductible (after-tax) contribution of $2,771 to a traditional IRA. The IRA contribution grows at 7.91 percent after-tax rate of return compounded annually for 14 years when it is distributed. The distribution is subject to a 25 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.

Reference no: EM132911342

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