You Want to Retire with $370 000 in the Bank

question 139

Multiple Choice

You want to retire with $370 000 in the bank and you are able to earn 4.84% compounded quarterly for the next 25 years. You currently have $175 000 saved up. How much more do you have to invest in 15 years in order to achieve your goal?

• A) $100 649.58
• B) $110 649.58
• C) $120 649.58
• D) $130 649.58
• E) $0.00

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Definitions:

Reissued

Refers to items or securities that are sold or distributed again after being previously issued.

Treasury Stock

Stocks that were initially released and then bought back by the company that issued them, decreasing the number of available shares in the market.

Cash Dividend

A payment made by a company out of its earnings to shareholders, usually in cash.

Stock Dividend

A payment to shareholders in the form of additional shares rather than cash, reflecting a company's earnings.