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16 March, 15:14

Ken has just retired. His Roth IRA has a present value of $524,856.00 and has an interest rate of 3.4%, compounded annually. In addition, he receives a yearly pension of $32,615.12. Given that Ken plans to draw from his Roth IRA for the next fifteen years, find his total annual income.

a.

$86,483.17

b.

$77,862.30

c.

$50,503.76

d.

$49,915.55

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  1. 16 March, 18:07
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    Ken has just retired. His Roth IRA has a present value of $524,856.00 and has an interest rate of 3.4%, compounded annually. In addition, he receives ayearly pension of $32,615.12. Given that Ken plans to draw from his Roth IRA for the next fifteen years, his total annual income is $77,862.30. The answer is letter B
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