Question: Problem 4 and 5-1 Future Value Consider that you are 35 years old and have just changed to a new job. You have $83,000 in

Problem 4 and 5-1 Future Value

Consider that you are 35 years old and have just changed to a new job. You have $83,000 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 $3,900 each year into your new employers plan.

If the rolled-over money and the new contributions both earn a 7 percent return, how much should you expect to have when you retire in 30 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Future value

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