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Luis has $120,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to roll
Luis has $120,000 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 $3000/quarter into the new account until his retirement 30 years from now. If the new account earns interest at the rate of 3.5%/year compounded quarterly, how much will Luis have his account at the time of his retirement? (Round your answer to the nearest cent.) $
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