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
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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
$ 727,109.31 X
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