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1 November, 00:48

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

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  1. 1 November, 04:40
    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
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