please help!
Kevin made contributions to a Roth IRA over the course of 40 working years. His contributions averaged $3,000 annually. Kevin was in the 25% tax bracket during his working years. The average annual rate of return on the account was 7%. Upon retirement, Kevin stopped working and making Roth IRA contributions. Instead, he started living on withdrawals from the retirement account. At this point, Kevin dropped into the 15% tax bracket. Factoring in taxes, what is the effective value of Kevin’s Roth IRA at retirement? Assume annual compounding.

$449,179.01

$568,905.34

$580,905.34

$586,905.34

Question

please help!
 Kevin made contributions to a Roth IRA over the course of 40 working years. His contributions averaged $3,000 annually. Kevin was in the 25% tax bracket during his working years. The average annual rate of return on the account was 7%. Upon retirement, Kevin stopped working and making Roth IRA contributions. Instead, he started living on withdrawals from the retirement account. At this point, Kevin dropped into the 15% tax bracket. Factoring in taxes, what is the effective value of Kevin’s Roth IRA at retirement? Assume annual compounding.

$449,179.01

$568,905.34

$580,905.34

$586,905.34

ankit042 · Answer

where are you stuck?

anonymous · Answer

i dont know how to solve and get the answer

ankit042 · Answer

Are you allowed to use Excel for your calculations?

anonymous · Answer

yes, i think i figured this out can you help me with another