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nirvana33 [79]
3 years ago
15

If you were to invest $3,500 in traditional IRA and a Roth IRA, after making adjustments for possible tax deductions, what would

your net contribution be for both the traditional and Roth IRA? Explain any differences your research shows.
Business
1 answer:
patriot [66]3 years ago
3 0
In a traditional IRA there is either an equal or near to equal contribution made by employer. So, if $3,500 is to be invested let's assume that another $3,500 to be invested by employer with a total contribution (of 3500+3500=7000) the net contribution would be the same as the total contribution, tax rate is not given. Let's assume tax assume tax slab of 28%. Traditional IRS-matching contribution from employer Net contribution-$3,500+3,500=7,000 Roth IRA Assumption-Tax bracket of 28% Net contribution= amount invested minus tax=$3500 minus (28% on 3500)= $3500- $980=$2520 Hence net contribution is not of taxes in case of Roth IRA Once the traditional IRA or Roth IRA is established, you decide to invest the proceeds in a mutual fund. Identify the type of mutual fund you would select.
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Using these data from the comparative balance sheet of K. Leen Company, perform vertical analysis.
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Answer and Explanation:

The vertical analysis is presented below:

Comparative Balance Sheet

<u>Particulars Dec 31, 2020      Percentage    Dec 31, 2019            Percentage </u>

(a)                      [(a) ÷ $3200000] × 100 (b)   [(b) ÷ $3000000] ×100

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receivables $400,000            12.5%             $400,000                  13.3%

Inventory        $864,000             27.0%           $600,000                   20.0%

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2 years ago
An economy is operating with output $300 billion above its natural level, and fiscal policymakers want to close this expansionar
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$120 billion

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