Q1: Sally has two IRA's. IRA #1 earns interest at 4% effective annually and IRA #2...
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Q1: Sally has two IRA's. IRA #1 earns interest at 4% effective annually and IRA #2 earns interest at 6% effective annually. She has not made any contributions since January 1, 1995, when the amount in IRA #1 was three time the amount in IRA #2. The sum of the two accounts on January 1, 2015 was $80,000. Determine how much was in IRA #2 on January 1, 1995. Q1: Sally has two IRA's. IRA #1 earns interest at 4% effective annually and IRA #2 earns interest at 6% effective annually. She has not made any contributions since January 1, 1995, when the amount in IRA #1 was three time the amount in IRA #2. The sum of the two accounts on January 1, 2015 was $80,000. Determine how much was in IRA #2 on January 1, 1995.
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Answer rating: 100% (QA)
Amount in IRA 1 on January 1 1995 3 x Amount in IRA 2 on January 1 1995 8... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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