Question: Luis has $ 1 8 0 , 0 0 0 in hisretirement account at his presentcompany. Because he is assuming a position with another company,

Luis has $180,000 in hisretirement account at his presentcompany. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a newaccount. Luis also plans to put $ 3000/ quarter into the newaccount until his retirement 30years from now. If the new account e arns interest at the rateof 2.5%/Year compounded quarterly, how much will Luis have in his account at the time of his retirement? Hint: Use thecompound interest formula andthe annuity formula. (Round your answer to the nearest cent.) $

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