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Determining the annual tax obligation

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Reference no: EM131658347

For 20 years through age 66, you contribute $3,000 to your 401K plan and earn 6% annually. If you are the in the 20% income tax bracket, what will be your annual tax obligation when you withdraw the funds for the next 15 years if your funds continue to earn 6%?

Reference no: EM131658347

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