Luis has $180,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over his assets to a new account. Luis also plans to put $3000/quarter into the new account until his retirement 25 years from now. If the new account earns interest at the rate of 4.5 % / year compounded quarterly, how much will Luis have in his account at the time of his retirement? (Round your answer to the nearest cent.) $

Luis has $180,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over his assets to a new account. Luis also plans to put $3000/quarter into the new account until his retirement 25 years from now. If the new account earns interest at the rate of 4.5 % / year compounded quarterly, how much will Luis have in his account at the time of his retirement? (Round your answer to the nearest cent.) $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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