Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI...
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Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI is $135,500. In your computations, round any division to two decimal places. Round your final answers to the nearest dollar. a. What is the maximum amount that Meredith can contribute? b. Assume that Meredith's AGI is $124,000. She plans to put $6,000 each year into her Roth IRA, hoping to earn 3% annually. What amount will accumulate in her Roth IRA at the end of 18 years? The future value of an ordinary annuity at 3% for 18 years is 23.4144. Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI is $135,500. In your computations, round any division to two decimal places. Round your final answers to the nearest dollar. a. What is the maximum amount that Meredith can contribute? b. Assume that Meredith's AGI is $124,000. She plans to put $6,000 each year into her Roth IRA, hoping to earn 3% annually. What amount will accumulate in her Roth IRA at the end of 18 years? The future value of an ordinary annuity at 3% for 18 years is 23.4144.
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