The current value of his Roth IRA is $215,658.00
What is Roth IRA retirement account?
Roth IRA retirement account is a retirement account where the contributions to the account are invested after taxes after have been deducted.
In other words, when the individual make contributions, taxes are first of all, deducted so as to invest the after-tax contribution into the Roth IRA account
The account lost 1/3 of its original value of $215,658
balance after the loss=$215,658-(1/3*$215,658)
balance after the loss=$ 143,772.00
Now the account regained 1/2 of its new balance of $ 143,772.00
balance now=$143,772.00+(1/2*$143,772.00)
balance now=$215,658.00
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Complete with the missing fractions:
michael wittry has been investing in his roth IRA retirement account for 20 years. Two years ago his account was worth $215,658. after losing 1/3 of its origiInal value, it then gained 1/2 of its new value back, what is the current value of his roth IRA?
