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  3. 2-04 (2) 3. someone in the 36 percent tax...

2-04 (2) 3. Someone in the 36 percent tax...

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Accounting

2-04 (2)
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3. Someone in the 36 percent tax bracket can earn 7 percent annually on her investments in a tax-exempt IRA account. What will be the real value of a one-time $18,000 investment in 5 years? 10 years? 20 years? Assume that the rate of inflation during all these periods was 2 percent a year. You may use Appendix C to answer the questions. Do not round intermediate calculations. Round your answers to the nearest dollar. in 5 years: $ in 10 years: $ in 20 years: 5 b. Someone in the 15 percent tax bracket can eam 14 percent annually on his investments in a tax-exempt IRA account. What will be the real value of a one-time $18,000 investment in 5 years? 10 years? 20 years? Assume that the rate of inflation during all these periods was 2 percent a year. You may use Appendix C to answer the questions. Do not round intermediate calculations. Round your answers to the nearest dollar. in 5 years: 5 in 10 years: $ in 20 years: 5

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