Calculate dollar amount of ira distribution investor is left


Problem

An investor makes a deductible (before-tax) contribution of $1,414 to a traditional IRA. The IRA contribution grows at an 4.56 percent before-tax rate of return compounded annually for 12 years when it is distributed. The distribution is subject to a 37 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.

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Finance Basics: Calculate dollar amount of ira distribution investor is left
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