You Deposit $3,000 in a Retirement Account Today at 5

question 270

Multiple Choice

You deposit $3,000 in a retirement account today at 5.5% interest. How much more money will you have if you leave the money invested for forty-five years rather than forty years?

• A) $7,714.91
• B) $7,799.08
• C) $7839.74
• D) $7,846.52
• E) $7,858.19

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Definitions:

Micro-culture

A smaller culture or subculture within a larger cultural context, characterized by its own norms, values, and practices.

Saving Face

The act of preserving one's reputation, dignity, or respect in a social context.

Compromise

An agreement or settlement of a dispute reached by each side making concessions.

Forcing

The act of making someone do something against their will or without their consent.