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5. Mateo Ernesto is 71 years old. His IRA has a fair market value of $ 390838.04. His life

expectancy factor is 26.5. What is Mateo's required minimum distribution?

User Adamkonrad
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1 Answer

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Answer: Mateo's required minimum distribution is $14,736.60.

Step-by-step explanation: RMD = IRA balance / life expectancy factor

Plugging in the numbers given:

RMD = $390838.04 / 26.5

RMD = $14,736.60

User EddyG
by
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