11. LO.5 Meredith, who is single, would like to contribute $6,000 to her Roth IRA. Her AGI...

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11. LO.5 Meredith, who is single, would like to contribute $6,000 to her Roth IRA. Her AGI is $126,000.

a. What is the maximum amount that Meredith can contribute? Show your calculations in Microsoft Excel.

b. Assume that Meredith’s AGI is $100,000 and she plans to put $6,000 each year into her Roth IRA, hoping to earn 6% annually. What future value will accumulate in her Roth at the end of 20 years?

c. In part (b), instead assume that Meredith puts the $6,000 into the Roth for 15 years at 6%. How much will accumulate at the end of this period?

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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Question Posted: Jul 19, 2024 01:01 AM

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11. LO.5 Meredith, who is single, would like to contribute $6,000 to her Roth IRA. Her AGI...

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Essentials Of Taxation Individuals And Business Entities

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