Mike has $4,500 that he wants to invest in an IRA. He expects that his money...

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Mike has $4,500 that he wants to invest in an IRA. He expects that his money will earn 9% and does not expect to withdraw the money from his IRA for another 25 years. He anticipates that his income tax rate will be 28% when he withdraws the funds. How much will he have after taxes if he invests this money in a traditional IRA? Mike has $4,500 that he wants to invest in an IRA. He expects that his money will earn 9% and does not expect to withdraw the money from his IRA for another 25 years. He anticipates that his income tax rate will be 28% when he withdraws the funds. How much will he have after taxes if he invests this money in a traditional IRA?

Answer rating: 100% (QA)

To calculate the amount Mike will have after taxes if he invests the 4500 in a traditional IRA we ne... View the full answer