Cooper makes annual contributions in the amount of $3250 on average to a Roth IRA. He wants to retire in 28 years. He is currently taxed on the 35% tax bracket what anticipates being taxed at 25% in his retirement years. If the average annual rate of return on his account is 4.1% what is the net value of Cooper's Roth IRA account at retirement? (show work)

A = $41,229.31

B = $133,067.24

C = $142,167.24

Question

Luciano Meadows

28 April, 05:17

+3

Answers (1)

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Eduardo Sheppard · Answer 1

3,250 * (((1+0.041) ^ (28) - 1)

: (0.041)) = 164,917.24

164,917.24 - (164,917.24*0.35)

=107,196.21 ... answer