Question

For 15 years through age 62, you contribute $5,500 to your traditional IRA and earn 4.5...

For 15 years through age 62, you contribute $5,500 to your traditional IRA and earn 4.5 percent annually. If you are in the 32 percent income tax bracket, what will be your annual tax obligation when you withdraw the funds for the next 10 years if your funds continue to earn 4.5 percent?

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Answer #1
Calculator
Inputs:
PV                    -  
PMT       (5,500.00)
Rate (I/Y) 4.500%
Term N              10.00
Output:
FV      67,585.15
Less: tax    (21,627.25)
After tax      45,957.90

Answer is 45,957.90

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