Mr William Expects to Retire in 30 Years and Would

question 79

Multiple Choice

Mr. William expects to retire in 30 years and would like to accumulate $1 million in the pension fund. If the annual interest rate is 12% per year, how much should Mr. Williams put into the pension fund each month in order to achieve his goal? Assume that Mr. Williams will deposit the same amount each month into his pension fund and also use monthly compounding.

• A) $286.13
• B) $771.60
• C) $345.30
• D) None of the above

---

Definitions:

Fathering

The act of performing the responsibilities of a father by providing care, protection, and guidance to one's children.

Feminist Issue

A matter or topic that is particularly relevant to feminism, often concerning women's rights, gender equality, or social justice.

Adolescent Childbearing

The phenomenon of teenagers becoming parents, which can have significant social, economic, and health implications for both the parent and child.

Cultural Context

The social, historical, and cultural environment in which an individual lives or an event occurs, influencing its interpretation and significance.