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Sati [7]
4 years ago
14

Ashton made contributions to a Roth IRA over the course of 32 working years. His contributions averaged $2,400 annually. Ashton

was in the 28% tax bracket during his working years. The average annual rate of return on the account was 8%. Upon retirement, Ashton stopped working and making Roth IRA contributions. Instead, he started living on withdrawals from the retirement account. At this point, Ashton dropped into the 15% tax bracket. Factoring in taxes, what is the effective value of Ashton's Roth IRA at retirement? Assume annual compounding.
1)
$330,608.49


2)
$300,608.49


3)
$310,592.49


4)
$231,920.99

Can someone tell me how to solve this?
Mathematics
1 answer:
enyata [817]4 years ago
3 0
The formula of the future value of an annuity ordinary is
Fv=pmt [(1+r)^(n)-1)÷r]
Fv future value?
PMT 2400
R 0.08
T 32 years
Fv=2,400×((1+0.08)^(32)−1)÷(0.08)
Fv=322,112.49
Now deducte 28% the tax bracket from the amount we found
annual tax 2,400×0.28 =672 and tax over 32 years is 672×32 =21,504. So the effective value of Ashton's Roth IRA at retirement is 322,112.49−21,504=300,608.49
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Alex

Answer:

The answer is incorrect because 12 should be negative not positive.

Step-by-step explanation:

1. 19 + -31 = - 12

2. Twelve is negative because if you were to start off at -31 and add 19 the answer would remain negative since -31 in a sense is "bigger" than 19. You would need more of a positive number to make -31 positive such as 40.

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A number that cannot be expressed that way is irrational. For example, one third in decimal form is 0.33333333333333 (the threes go on forever). However, one third can be express as 1 divided by 3, and since 1 and 3 are both integers, one third is a rational number.

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Answer:

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Step-by-step explanation:

Given: The low temperature on Monday was 16°F. The low temperature on Tuesday was 18°F cooler. The low temperature on Wednesday was –4 times Tuesday’s temperature.

To find: expression that can be used to describe the low temperature on Wednesday

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Temperature on Monday = 16°F

So,

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Temperature on Wednesday = -4(16-18)\°F

So, expression -4(16-18)=(16-18)(-4) can be used to describe the low temperature on Wednesday.

Also,

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So, expression [16 + (-18)](-4) also represent temperature on Wednesday.

3 0
4 years ago
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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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