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6. [0/6.66 Points) DETAILS PREVIOUS ANSWERS TANFIN12 5.2.021. 1/6 Submissions Used MY NOTES ASK YOUR TEACHER Luis has $1
Posted: Wed May 11, 2022 9:08 pm
by answerhappygod
- 6 0 6 66 Points Details Previous Answers Tanfin12 5 2 021 1 6 Submissions Used My Notes Ask Your Teacher Luis Has 1 1 (24.84 KiB) Viewed 23 times
6. [0/6.66 Points) DETAILS PREVIOUS ANSWERS TANFIN12 5.2.021. 1/6 Submissions Used MY NOTES ASK YOUR TEACHER Luis has $190,000 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 $2000/quarter into the new account until his retirement 20 years from now. If the new account earns interest at the rate of 5.5%/year compounded quarterly, how much will Luis have in his account at the time of his retirement? Hint: Use the compound interest formula and the annuity formula. (Round your answer to the nearest cent.) $ 12,346.58 X