Question: please help im so lost Challenge question in the chapter text, we dealt exclusively with a single lump sum but often we may be looking

please help im so lost
please help im so lost Challenge question in the chapter text, we

Challenge question in the chapter text, we dealt exclusively with a single lump sum but often we may be looking at several lump-sum values simultaneously. Let's consider the retirement plan of a couple Currently, the couple has four different investments: a 401(k) plan, two pension plans, and a personal portfolio. The couple 8 year way from retirement . They believe they have sufficient money in their plans today so that they do not have to contribute to the plans over the next 8 years and will meet their $2 milion retirement goal. Here are the current values and growth rates of their plans: 401) 390.000 growing at Pension Plan One $285.000 growing at 7.25% Pension Plan Two $187.000 growing at 7.75% Personal Portfolio: $168.000 growing at 8.5% Does the couple have enough already invested to make their goal in 8 years? Hint View each payment as a separate problem, and find the future value of each umum 3 years from now. Then add up all the future values What is the value of the 401(K) 6 years from now? (Round to nearest cent)

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