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Learning Goal: I’m working on a entrepreneurship project and need an explanation

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Learning Goal: I’m working on a entrepreneurship project and need an explanation and answer to help me learn.
WORKPLACE SCENARIO
Hillary Fox
Mariposa worked at a design firm for five years. Each year, she contributed $4,260 in order to maximize the company’s matching investment and reduce her income taxes. After five years, with an annual return of 8% per year, Mariposa’s 401(k) had a value of $25,000.
Then Mariposa accepted a new job (which came with a raise) in the marketing department at Just Running. Congratulations, Mariposa! Because she is switching jobs and employers, she has a decision to make about what to do with her old 401(k). In order to make the wisest financial decision, she will need to determine the future value of three different options.
ROLL IT OVER
Mariposa could take the $25,000 and rollover, or transfer, the total amount into her new 401(k) at Just Running. She would not have to pay income taxes or any penalties for this choice.
BUY A HOME
Mariposa could take $10,000 (without a penalty for an early withdrawal) from the funds from her old 401(k) to use as a down payment on a home. She would then rollover the rest of the funds into the new 401(k).
CASH IT OUT
Mariposa could spend the $25,000, but she would have to pay income taxes on the total amount as well as a 10% early withdrawal penalty.
To help Mariposa decide what to do, you will need to determine the future value of the new 401(k) in 40 years for each option. Thanks to the raise and the company match at her new job, Mariposa is able to contribute $5,000 per year to her new 401(k). You can assume an average interest rate of 8% per year. ASSIGNMENT TEMPLATE
Calculate the future value of Mariposa’s new 401(k) based on a present value of $25,000, an interest rate of 8% (0.08), and regular payments of $5,000 per year for 40 years.
Enter each of the TVM variables, then calculate the future value using the FV function: =FV(R, n, PMT, PV)
When using the FV function in a spreadsheet, you must enter the payment (PMT) as a negative number without any commas or the dollar sign.
Spreadsheet item click Enter to continueA
B
5 TVM VARIABLE
TVM Variable
Amount
6 interest rate
Interest rate (R)
7 number of years
Number of years (n)
8 payment
Payment (PMT)
9 present value
Present value (PV)
10 future value
Future value (FV)

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