What is the after-tax future value of these investments, Finance Basics

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What is the after-tax future value of these investments

Problem

A person makes a $5500 contribution to a Traditional IRA. The person invests the tax savings. Both the IRA contribution and tax savings grow at 8% tax deferred, i.e., the tax savings is invested in a pure growth asset. What is the after-tax future value of these investments in 22 years? The tax rate is 28%.

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Finance Basics: What is the after-tax future value of these investments

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