You Will Be Receiving $5,000 from Your Family as a Graduation

question 185

Multiple Choice

You will be receiving $5,000 from your family as a graduation present. You have decided to save this money for your retirement. You plan to retire thirty-five years after graduating. How much additional money will you have at that time if you can earn an average of 8.5% on your investment instead of just 8%?

• A) $12,971.49
• B) $13,008.47
• C) $13,123.93
• D) $13,234.44
• E) $13,309.85

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Definitions:

US

Refers to the United States, a country located primarily between Canada and Mexico, composed of 50 states, a federal district, five major self-governing territories, and various possessions.

CS

Acronym for Conditioned Stimulus, a previously neutral stimulus that, after being associated with an unconditioned stimulus, elicits a conditioned response.

Adaptability

The ability to adjust to new conditions or environments, demonstrating flexibility and resilience.

Cognition

Gaining understanding and knowledge through the processes of thought, life experiences, and sensory engagement.