Ravi,age 42 Has $250,000 Saved and Plans to Retire at Age

question 17

Multiple Choice

Ravi,age 42 has $250,000 saved and plans to retire at age 67.Ravi is saving an additional $10,000 each year from 42 until retirement.Ravi's asset allocation is 65% stocks and 35% bonds.The investment return on stocks is 6% and the return on bonds is 3%.Calculate the amount of financial assets Ravi will have at retirement.

• A)$1,310,562
• B)$1,621,613
• C)$888,037
• D)$1,093,791
• E)$1,197,011

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