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(Solved): Question A 68 year old retiree has a pension savings of $40,000, a 401 k of $63,000, and an IRA acco ...
Question A 68 year old retiree has a pension savings of
$40,000, a 401 k of
$63,000, and an IRA account of
$59,000. Before 2008 , he had
2%more cash in the pension,
12%more in the IRA, and
1%more in the 401 k . He wants to take out
2%from each account before he turns 72 , which will cost him a penalty of an extra
1%from the current total pension amount,
2%from the
401k, and
6%from the IRA. What amount will the retiree have in his IRA account if he takes that money out now? Do not include
$in answer. Example, if answer is
$7, put 7 .
