Consider That You Are 30 Years Old and Have Just

question 41

Multiple Choice

Consider that you are 30 years old and have just changed to a new job. You have $91,000 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 $400 each month into your new employer's plan. If the rolled-over money and the new contributions both earn a 7 percent annual return, how much should you expect to have when you retire in 38 years?

• A) $2,019,095.26
• B) $2,195,145.40
• C) $2,298,025.12
• D) $2,301,116.92

---

Definitions:

Liabilities

Financial obligations or debts that a company owes to external parties, which must be settled over time through the transfer of assets, provision of services, or other forms of economic benefit.

Revenue

The cumulative revenue produced from the sale of goods or provision of services directly linked to the main business activities of a company.

Unearned Rent Revenue

Income received by a property owner for rent that has not yet been earned because the time period the rent covers has not yet passed.