Consider that you are 45 years old and have just changed to a new job. You have $156,000 in the retirement plan from your former employer. You can roll that money into the retirement plan of the new employer. You will also contribute $7,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a return of 8 percent, how much should you expect to have when you retire in 20 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value S 727,109.31
Consider that you are 45 years old and have just changed to a new job. You have $156,000 in the retirement plan from your former employer. You can roll that money into the retirement plan of the new employer. You will also contribute $7,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a return of 8 percent, how much should you expect to have when you retire in 20 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value S 727,109.31
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 33P
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