Now an investor makes a nondeductible (after-tax) contribution of $2,532 to a traditional IRA. The...
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Now an investor makes a nondeductible (after-tax) contribution of $2,532 to a traditional IRA. The IRA contribution grows at a 6.70 percent pre-taxrate of return compounded annually for 9 years when it is distributed. The investment earnings are subject to a 22 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.
Round the final answer to two decimal places.
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