Currently You Are 25 Years Old and Planning for Retirement

question 55

Multiple Choice

Currently you are 25 years old and planning for retirement in 30 years. You plan to buy into a mutual fund at $100 per month and expect to obtain a return of 1.25% per month. How much will the mutual fund be worth in 30 years?

• A) $692.328
• B) $561,453
• C) $893,001
• D) $1,041,009

Understand the requirements and protections provided under various consumer protection laws.

Identify the regulatory measures and remedies available for false or deceptive advertising.

Comprehend the rights and procedures under the Fair Debt Collection Practices Act.

Recognize the implications and regulations under the Fair Credit Reporting Act.

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Definitions:

Gross Domestic Product

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Intangible

Refers to assets or properties that do not have a physical form but have value, such as intellectual property, software, and brand reputation.

Household Maintenance

Refers to the routine tasks and repairs needed to keep a home running smoothly and efficiently, including cleaning, fixing, and organizing.

Intangibility

A characteristic of services indicating that they cannot be seen, touched, or made tangible in the same manner as physical products.