Question 6 1 pts Luis has $160,000 in his retirement account at his present company. Because he is assuming a position w

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Question 6 1 Pts Luis Has 160 000 In His Retirement Account At His Present Company Because He Is Assuming A Position W 1 (102.44 KiB) Viewed 56 times

Question 6 1 pts Luis has $160,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to roll over his assets to a new account. Luis also plans to put $2,000/quarter into the new account until his retirement 22 yr from now. If the account earns interest at the rate of 8%/year compounded quarterly, how much will Luis have in his account at the time of his retirement? Please round the answer to the nearest cent. Hint: Use the compound interest formula and the annuity formula. O $1,243,846.50 $1,474,821.95 $1,317,524.62 O $1,385,212.05 O $1,439,637.22 < Previous Next →