The retirement plan from your former employer

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Reference no: EM131882583

1. What annual interest rate would you need to earn if you wanted a $600 per month contribution to grow to $50,000 in six years?

Annual interest rate:

2. Consider that you are 40 years old and have just changed to a new job. you habe $154.000 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 $7600 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?

(Future value)

Reference no: EM131882583

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