Question

Pat is a 23 year old man. He earns a taxable income of $70,000.00, and the effective

tax rate on his income is 19%. He contributes 10% of his earnings into a Roth IRA
account with 3% return what is his estimated Roth IRA balance when he is 50 years
old?

Answer 1

$12,594.71

Explanation:

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