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2014CFA3级-每日一练-R11-001

Assume that 125,000 is invested in a TDA. What is the after-tax balance in the account after 15 years if the tax rate is 28% and the pre-tax return is 11%?


A) 598,074.

B) 430,613.

C) 392,138.


solution:B


The balance in the account after payment of taxes in 15 years uses the future value interest factor for a TDA (FVIF,TDA):
FVIFTDA = (1 + R)^N*(1 ? TN)
FV = 125,000[FVIF,TDA]
FV = 125,000[(1.11)^15*(1 ? 0.28)
FV = 430,613

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