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How much will ron have after taxes when money is withdrawal

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Question - Ron deposited $3,000 into a traditional IRA this year. He expects his account will earn an average annual rate of 7%, and he plans to withdraw the money in 34 years. His current income tax rate is 25%, but he anticipates that his income tax rate will be 15% when he withdraws the money. How much will Ron have after taxes when the money is withdrawn?

Reference no: EM133036596

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