A Quiz for Tax Time...

Imagine that you are an investor who is so good that you are generating gains of 100% each year. You begin with $1 the first year, generate $1 of gains, and end the year with $2. In the second year, you generate $2 of gains, and end the year with $4, and so on. At the end of 20 years, you will be a millionaire with $1,048,576. But suppose you did the same in an account where you have to pay the government taxes each year on your gains that year. Assume that your tax rate is 33%. Then, how much will you have at the end of 20 years?

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