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Exercise 19-21 (Algorithmic) (LO. 6) The Age of the Newtons, a married couple, is $200,625 this year. They would like to contribute to a Roth
Exercise 19-21 (Algorithmic) (LO. 6) The Age of the Newtons, a married couple, is $200,625 this year. They would like to contribute to a Roth IRA. Round any division to two decimal places. Round final answer to the nearest dollar. a. What is the maximum amount this couple can contribute to a Roth IRA? $ Feedback b. Suppose that the Newtons will report AGI of less than $196,000 and put $12,000 each year into their Roth IRA for 14 years, earning an annual return of 8%. What future value will accumulate in their Roth at the end of this period? The future value of an ordinary annuity at 8% for 14 years is 24.2149. Feedback Feedback
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