How much should she expect to have when she retires

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Meghan is 45 years old and has just been hired to a new firm. She has $150,000 in the retirement plan of her former employer. She can roll that money into the retirement plan of her new employer. She will also contribute $8,000 each year into her new employer's plan. If the roller-over money and the new contributions both earn an 8% return (compounded annually), how much should she expect to have when she retires in 20 years (rounded to the nearest dollar)?

Reference no: EM132505662

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