Lenny started making contributions to a traditional ira when he got his first job at age 24. his contributions averaged $2400 annually. lenny was in the 25% tax bracket during his working years when he continued to make these annual contributions. the average annual rate of return on the account it was 6.5%. upon retirement at age 67 lenny stopped working and making ira contributions. instead he started living on with drawls from the retirement account. at this point lenny dropped into the 15% tax bracket. factoring in taxes, what is the affective value of lennys traditional ira at retirement? assume annual compounding. (show work)

a= 110,883,44
b= $387,636.62
c= $439,321.62
d= $501,368.96

a = 16

b = 3/4

Step-by-step explanation:

Given that the function to represent the

industrial copy machine that has the ability to reduce image dimensions by a certain percentage each time it copies is f(x)=a(b)^x

Where

F(x) = length of the paper

X = number of times

If a design began with a length of 16 inches, represented by the point (0,16). After going through the copy machine once, the length is 12, represented by the point (1,12).

To put in equation f(x)=a(b)^x, we will substitute for f(x) and x in the equation

At point ( 0, 16 )

16 = a(b)^0

Anything at exponential zero is equal to one. Therefore,

16 = a(1)

a = 16

At point ( 1, 12 )

12 = a (b)^1

12 = ab

Since a = 16, substitute into the equation above.

12 = 16b

b = 12/16

b = 3/4