The plan does average annual return of 11% lena is 40and plans to work to the age of 65. If she contributes $160 per month, how much will she have in her plan at retirement?
Present value of payment of 160 per month for 300 months at the rate 0.11/12 is 16,324.65
Future value of this =16,324.65*(1+0.11/12)^300 =252181.33
Answer: $252,181.33 or $252,181
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