Wednesday

September 17, 2014

September 17, 2014

Posted by **peter** on Sunday, December 11, 2011 at 1:31pm.

1. How much money will remain after you pay the taxes at the age 60?

2. Suppose that instead of depositing the money into the IRA, you pay taxes on the money and the annual interest. How much money will you have at age 60? ( note: You effectively start with 1800(60% 3000) and the money earns 4.8%(60%of 8%) interest after taxes.

3. To the nearest dollar, how much additional money will you earn with IRA?

4. Suppose you pay taxes on the original %3000, but then able to earn 8% in a tax-free investment. Compare your balance at age 60 with the IRA balance.

**Answer this Question**

**Related Questions**

math - suppose you deposited $3000 of earned income into an IRA, you canearn an ...

math - One of the advantages of borrowing is that interest is deductible for ...

Finance Accounting - One of the advantages of borrowing is that interest is ...

algebra - A total of $6200 is deposited into two simple interest accounts. On ...

Finance - john deposited 3000 into an account with 5% annual interest rate ...

Math - Larry has an annual return of $213.00 from $3000.00 invested at simple ...

math - An amount of $3000 was deposited in a bank at a rate of 2% annual ...

Math - Suppose that Ramos contributes $6000/year into a traditional IRA earning ...

algebra - Hassan deposited $7,500 into a bank account. At the end of 3 years, ...

math - Suppose that $200 was deposited on 1st Jan 2000 into an account that ...