2 years ago

Mike has inherited his father's traditional ira. as beneficiary, he will pay ____ taxes on any money withdrawn.

1 answer:

5 0

The answer would be income taxes. The recipient can pull back the assets and pay the pay charges over a five-year time span. The recipient can make required yearly least disseminations throughout the recipient's measurably decided future, paying pay charges as withdrawals are made. The IRS has an outline with respect to future. This choice could enable a more youthful recipient to spread out the withdrawals and along these lines the income taxes over numerous years; The recipient can make required yearly least dispersions through the span of the decedent's factually decided future, paying wage charges as withdrawals are made.

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Suppose that $2500 is placed in a savings account at an annual rate of 5%, compounded quarterly. Assuming that no withdrawals ar

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Answer:

number of periods = 8 years.

Explanation:

We know,

Future Value = Present value × $(1 + r)^{n}$

Here,

Present value = PV = $2,500

Future value = FV = $3,500

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