Question 12 (1 point) If you are age 25, single, wage income of $50,000, 401(k) at work, and invest $800 into a Roth IRA, what is your spending power at age 702 Assume your tax rate now is 15%, your tax rate in retirement is 20%, and the pretax annual return on the investment is 5%. O $7,188 $8,985 $7,859 Previous Page Next Page Page 12 of 50 Question 12 (1 point) If you are age 25, single, wage income of $50,000, 401(k) at work, and invest $800 into a Roth IRA, what is your spending power at age 702 Assume your tax rate now is 15%, your tax rate in retirement is 20%, and the pretax annual return on the investment is 5%. O $7,188 $8,985 $7,859 Previous Page Next Page Page 12 of 50