Luis has $170,000 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 $2000/quarter into the new account until his retirement 30 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
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Luis has $170,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Derk owns 450 shares of stock in Rose Corporation. The remaining 1,050 shares of Rose are owned as follows: 150 by Derk's daughter, 300 by Derk's aunt, and 600 by a partnership in which Derk has ownership interest of 90%.
Answers (1)
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, the beginning of the current fiscal year. On April 10, Hawk invested an additional $10,000.
Answers (1)
Suppose Sam's Shoe Co. makes only one kind of shoe, which sells for $50 a pair. If they sold 500,000 pairs of shoes, and had a total cost of $1,000,000, what was the company's profit?
Answers (1)
Bond investors will experience capital gains when Group of answer choices market interest rates are high and falling. market interest rates are high and rising. the required rate of return exceeds the risk-free rate of return.
Answers (1)
Which of the following states that a company must perform strictly proper accounting only for items that are significant to the business's financial statements? a. accounting b. materiality concept c. disclosure principle
Answers (1)
New Questions in Business
One of the advantages of personal selling over other types of marketing communications is: a. salespeople can customize their message for a specific buyer. b. it almost always costs less than other marketing communication alternatives. c.
Answers (1)
The difference between the maximum price a consumer is willing to pay for a product and the actual price the consumer pays is called
Answers (1)
Find the duration of a 7.6% coupon bond making semiannually coupon payments if it has three years until maturity and has a yield to maturity of 6.0%. What is the duration if the yield to maturity is 12.0%? Note: The face value of the bond is $100
Answers (1)
Vaughn Corporation acquires a coal mine at a cost of $460,000. Intangible development costs total $115,000.
Answers (1)
Sara wants to start her own business. She is not sure if she wants to be a sole proprietor or get a partner. She asks a financial adviser about the different ways in which she might finance her company.
Answers (1)