SOLUTION: From my IRA, how much money do I need to wihtdraw to get $10,000 if they withhold 10 persent? My e-mail address is maryandjimsabin@verizon.net. Thank you, Jim Sabin

Question 543471: From my IRA, how much money do I need to wihtdraw to get $10,000 if they withhold 10 persent? My e-mail address is maryandjimsabin@verizon.net.
Thank you, Jim Sabin
Answer by jpg7n16(66) (Show Source): You can put this solution on YOUR website!
Hey Jim,
.
To answer this question you set up an equation like so:

You have some amount minus 10% of that amount, which leaves you with $10,000.
.
Doing some algebra, you can reduce that down and find a much easier way of calculating what you'll need.
factor out the x's on the left
divide by (1-.10)

You need to w/d $11,111.11 to get exactly $10k after 10% withholding.
.
.
For future calculations, you can use the following formula:

Hope this helps!
RELATED QUESTIONS
If an individual determines that they would like to retire in 20 years with $500,000 as... (answered by CPhill)

My book gives an example of an quadratic equation, but I do not understand how it has... (answered by jim_thompson5910)

I forgot to give an e-mail address for the question: How would you factor this:... (answered by Earlsdon,Photonjohn)

I forgot to give an e-mail address for the question: How would you factor this:... (answered by Earlsdon)

I just realized that I missed a letter from my e-mail address, can you please fixed.... (answered by Alan3354)

I need to know the discriminant of a parabola whose associated values are (-4,0(2,0)AND... (answered by Alan3354)

Essays are 10% of my grade. My final grade was 56% I need to retake the essay so i can (answered by richard1234)

If I currently have an 87.6% in my Stats class, and my homework is 10% of my grade... my... (answered by Alan3354)

If an individual determines that they would like to retire in 20 years with $500,000 as... (answered by Theo)