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Dan and Wayne are brothers who intend to begin saving money for retirement when each is exactly age 25. Each brother intends to save $4,800

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Dan and Wayne are brothers who intend to begin saving money for retirement when each is exactly age 25. Each brother intends to save $4,800 per year before taxes and invest the money to accumulate wealth and to provide income in retirement. Dan plans to invest his savings into a Traditional IRA and anticipates an average annual return of 10%. Wayne plans to invest his savings into a Roth IRA and also anticipates an average annual return of 10%. Both brothers expect to have an annual income tax rate of 25% during their working years and also in their retirement years. 1) How much money will Dan have in his Traditional IRA Investment Account at age 67 If a 25 year annuity is purchased with this sum of money at age 67, how much annual income after taxes will be provided if the annuity contract has a 4% interest rate? 2) How much money will Wayne have in his Roth IRA Investment Account at age 67 $ If a 25year annuity is purchased with this sum of money at age 67, how much annual income after taxes will be provided if the annuity contract has a 4% interest rate? $ What conclusions can you determine from this analysis? Briefly Explain

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