Consider That You Are 30 Years Old and Have Just

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