Solution-Calculate the dollar amount of IRA distribution

Calculate the dollar amount of IRA distribution the investor

Reference no: EM132922472

Question - An investor makes a deductible (before-tax) contribution of $1,401 to a traditional IRA. The IRA contribution grows at an 5.12 percent before-tax rate of return compounded annually for 10 years it is distributed. The distribution is subject to a 24 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes. Round the final answer to two decimal places.

Reference no: EM132922472

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Calculate the dollar amount of IRA distribution the investor

Reference no: EM132922472

Reference no: EM132922472

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