Suppose you invest $20,000 at the age of 40, and agree to start receivingpayments at the age of 50. At age 47, you decide you want to withdraw $7500
from your account. What is the IRS fee you will have to pay? Remember, the
IRS charges 10% if you withdraw before you are 59.5.
O
O
o
O
A. $750.00
B. $75.00
C. $500.00
D. $100.00
SURMIT

Answers

Answer 1
Answer:

The amount of the IRS fee you will have to pay is A. $750.00.

What is Percentage?

Percentage is defined as the parts of a number per fraction of 100. We have to divide a number with it's whole and then multiply with 100 to calculate the percentage of any number.

Percentage is usually denoted by the symbol '%'.

Given that,

Amount you invested at the age of 40 = $20,000

You will receive payments at the age of 50.

Amount withdrawn at the age of 47 = $7500

IRS charges 10% if you withdraw before you are 59.5.

Since your age is 47, you have to pay 10% IRS fees.

IRS fees = 10% of 7500

              = 10/100 × 7500

              = $750

Hence the IRS fee you will have to pay is A. $750.00.

Learn more about Percentage here :

brainly.com/question/3344817

#SPJ5

Answer 2
Answer:

Answer: A. $750.00

Step-by-step explanation:


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Answers

Answer:

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Answers

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Answers

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Answers

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Answers

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