John Is 25 Years Old and Wishes to Retire in 30

question 38

Multiple Choice

John is 25 years old and wishes to retire in 30 years. His plan is to invest in a mutual fund earning a 12 percent annual return and have a $1 million retirement fund at age 55. How much must he invest at the end of each year to achieve this goal?

• A) $7,499.96
• B) $5,024.60
• C) $4,143.65
• D) $33,333.33

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Definitions:

Notify Physician

The act of informing a doctor about a patient's condition or changes in their health status.

Vital Signs

Clinical measurements that indicate the state of a patient’s essential body functions, including temperature, pulse, respiration rate, and blood pressure.

Blood Transfusion Reaction

An adverse response by the body to the transfusion of blood products, which can range from mild allergic reactions to severe complications.

Lactated Ringer's

A solution commonly used for fluid and electrolyte replenishment in medical treatment, containing sodium chloride, sodium lactate, potassium chloride, and calcium chloride in water.