Save Exit Submit Assignment for Grading Question 34 of 34 Check My Work (Chapter 18 Section ml Review Exercise #30) BUSINESS DECISION: INVESTING YOUR TAX SAVINGS You are a manager for Vector International. You earn $45,000 per year and are in the 29% ederal income tax bracket. Each year you contribute 2 000 tax 'me to your individual retirement account IRA The account earns 6% annual interest. In addition, the amount of tax that you save each year by making these pre-tax contributions is invested in a taxable aggressive growth mutual fund averaging 17%. Round your answers to the nearest cent. Hint: For some answers, you may wish to click here for Table 12-1 a. How much tax do you save each year by making the retirement fund contributions? b. How much will the retirement fund be worth in 30 years? c. Although the income from this investment is taxable each year, how much will the "tax savings" fund be worth in 30 years? Check My Work 0icon Key s Question 34 of 34 for Grading Chapter 18 Section 111 Review Exercise #301 Save Exit Submit