Consider that you are 40 years old and have just changed to a new job. You have

Question

Consider that you are 40 years old and have just changed to a new job. You have $141,000 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 $6,300 each year into your new employer’s plan.

If the rolled-over money and the new contributions both earn an 7 percent return, how much should you expect to have when you retire in 25 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Consider that you are 40 years old and have just changed to a new job. You have $141,000 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 $6,300 each year into your new employer’s plan.

Explanation / Answer

Working:

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.