Retirement account-expect to have in account when he retires

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Reference no: EM131020306

Fei has 11,600 dollars in his retirement account. In addition, he plans to save 8,100 dollars per year in his account for 8 years. His first contribution to his account is expected immediately and his last contribution is expected in 7 years. Fei expects to earn 13.79 percent per year in his account. Fei plans to retire in 8 years. How much money does Fei expect to have in his account when he retires?

Reference no: EM131020306

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