Steve is about to retire and wants to calculate the total worth of his retirement assets. He
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Question:
Steve is about to retire and wants to calculate the total worth of his retirement assets. He has a corporate pension paying $2250 at the beginning of every month. He is also entitled for Social Security benefits of $1450 at the beginning of every month. He also has a 401(k) plan with an accumulated balance of $480,000. The regular U.S. government bonds yield 5% and the government inflation-indexed bond provides a current return of 3.5% and their remaining life span is 20 years.
Compute the combined worth of Steve's retirement assets.
$1,034,568
$1,112,452
$1,073,099
$1,065,197
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
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