You Just Won the Sweepstakes and Have Decided to Take

question 24

Multiple Choice

You just won the Sweepstakes and have decided to take your winning in 15 equal payments of $35,000.You decide to save all of this money for your retirement and deposit it into an account that earns 11% per year.What is the amount of your retirement nest egg? (Round to the nearest whole dollar)

• A) $1,204,188
• B) $1,032,161
• C) $1,112,037
• D) $557,810
• E) $852,225

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Definitions:

In Utero

A Latin term referring to the period when an embryo or fetus is inside the uterus.

Catholic

Relating to the Roman Catholic Church, its teachings, practices, and beliefs.

Yom Kippur

The holiest day in Judaism, marked by fasting and atonement, observed with intensive prayer and repentance.

Parenterally

The administration of medication or nutrition by injection through routes other than the digestive tract, such as intravenously, intramuscularly, or subcutaneously.