Kirby made contributions to a Roth IRA over the course of 35 working years. His contributions averaged $2,000 annually. Kirby was in the 26% tax bracket during his working years. The average annual rate of return on the account was 5%. Upon retirement, Kirby stopped working and making Roth IRA contributions. Instead, he started living on withdrawals from the retirement account. At this point, Kirby dropped into the 15% tax bracket. Factoring in taxes, what is the effective value of Kirby's Roth IRA at retirement? Assume annual compounding

Question

anonymous · Answer

i tried the formula and i cannot get it. i keep getting 153544.52
         $170,140.61 	
	b. $172,940.61 	
	c. $162,440.61 	
	d. $133,674.05