Jennilee made contributions to an IRA over the course of 40 working years. Her contributions averaged $5,000 annually. Jennilee was in the 33% tax bracket during her working years. The average annual rate of return on the account was 6.5%, bringing the value of the IRA to $878,159.58 by the time she retired. At this point, Jennilee stopped working and making IRA contributions, and instead started living on withdrawals from the retirement account. Jennilee dropped into the 28% tax bracket at retirement. What is the difference in the taxes Jennilee would pay on this account over time between a
Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus.
Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
* MY WORK *