Joy expects her marginal tax rate to be 25% during the inves…

Joy expects her marginal tax rate to be 25% during the investment period (i.e., t0) and 30% at the end of the investment horizon and thereafter (i.e., tn).  Joy has $600,000 of before-tax income (i.e., subject to tax at the ordinary rate) to invest with an expected 5-year time horizon.  The investment department at your firm has identified the following potential investments: A traditional IRA that is expected to earn a 9% annual rate of return. Savings account paying 6% annually. An investment in gold expected to appreciate 8% annually.  The gold would be held for investment and not otherwise used in a business.  Required: Based on the information above, what is the formula for the expected after-tax future value of each investment? You do not need to compute the after-tax value, but you must enter the variable values in the formula rather than simply variables (i.e., R, t0 etc.). Traditional IRA:  ATFV = __________________________________________________ Savings Account:  ATFV = ________________________________________________ Gold:  ATFV = __________________________________________________________ Clearly type the formula for each of the investments.  All variables must contain values (i.e., numbers, not letters!).