all of which are deferred capital gains这不是说假设都放到了TDA里的意思吗？

问题如下：

4. If Motelli’s current investment account of €250,000 is invested in an investment which is expected to earn a return of 7.5 percent, all of which are deferred capital gains, what is his expected after-tax accumulation in 15 years? The account’s market value is equal to its cost basis.

选项：

€640,747.

€665,747.

€690,747.

解释：

C is correct.

The after tax wealth accumulation for deferred capital gains is

FVIF_cg = (1 + r)ⁿ(1 – t_cg ) + t_cg

FVIF_cg = €250,000 × [(1 + 0.075)¹⁵(1 – 0.1) + 0.1] = €690,747