Solve the Problem $\quad 10 \%$ Regular Deferred Contribution $\$ 1000$ Annual Rate of Return

question 243

Multiple Choice

Solve the problem.
-Find the final value, after all taxes are paid, for the following retirement account. Assume that taxes are deferred and that deposits are made at the end of each year. Marginal tax rate: $\quad 10 \%$
Regular deferred contribution: $\$ 1000$
Annual rate of return: $\quad 5 \%$
Number of years: 30

• A) \(\$ 68,166.26\)
• B) \(\$ 59,794.96\)
• C) \(\$ 55,609.32\)
• D) \(\$ 62,784.71\)

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