Malek contributed to a pension plan for several years before changing jobs. The plan currently averages 6.7%

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Malek contributed to a pension plan for several years before changing jobs. The plan currently averages 6.7% p.a. compounded semi-annually, and his pension is currently worth $42,349.87.

If Malek decides to leave his pension in the plan, how much more would he have in 19 years versus taking a lump sum payout now?

Related Book For answer-question

Taxes And Business Strategy A Planning Approach

ISBN: 9780132752671

5th Edition

Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon

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Posted Date: Apr 18, 2023 11:33 PM

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Malek contributed to a pension plan for several years before changing jobs. The plan currently averages 6.7%

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To calculate the future value of the pension in 19 years we can use the compound interest formula FV ... View the full answer

Taxes And Business Strategy A Planning Approach

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