Question
Lindsey Jones is 27 years old, and she recently took a new job. Lindsey had accumulated $6,000 in her previous employers 401(k) retirement plan, and
Lindsey Jones is 27 years old, and she recently took a new job.
Lindsey had accumulated $6,000 in her previous employers 401(k)
retirement plan, and she withdrew it to help pay for her wedding.
How much less money will Lindsey have at retirement at age 67 if
she could have earned 9 percent on the $6,000?
A. $6000
B. $24,000
C. $48,000
D. $203,000
Please show all workings clearly.
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Business Analysis And Valuation Using Financial Statements Text And Cases
Authors: Krishna G. Palepu, Paul M. Healy, Victor L Bernard
3rd Edition
0324118945, 9780324118940
