Ask Question
28 April, 05:17

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

+3
Answers (1)
  1. 28 April, 06:58
    0
    3,250 * (((1+0.041) ^ (28) - 1)

    : (0.041)) = 164,917.24

    164,917.24 - (164,917.24*0.35)

    =107,196.21 ... answer
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “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 ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers