An Individual in the 15 Percent Tax Bracket Has $10,000

question 47

Multiple Choice

An individual in the 15 percent tax bracket has $10,000 invested in a tax-exempt IRA account. If the individual earns 8 percent annually before taxes and inflation is 2.5 percent per year, what is the real value of the investment in 20 years?

• A) $23,211
• B) $28,467
• C) $29,178
• D) $37,276
• E) $46,610

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