Consider that you are 30 years old and have just changed to a new job. You have $91,000 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 $4,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a 7% return, how much should you expect to have when you retire in 38 years?
A) $2,012,560.60
B) $2,018,506.60
C) $2,106,718.60
D) $2,216,781.60

Question

Quizplus · Accepted Answer

The Answer of Consider that you are 30 years old and have just changed to a new job. You have $91,000 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 $4,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a 7% return, how much should you expect to have when you retire in 38 years?
A) $2,012,560.60
B) $2,018,506.60
C) $2,106,718.60
D) $2,216,781.60

Consider That You Are 30 Years Old and Have Just