You Would Like to Have Enough Money Saved to Receive

question 47

Multiple Choice

You would like to have enough money saved to receive $80,000 per year perpetuity after retirement so that you and your family can lead a good life. How much would you need to save in your retirement fund to achieve this goal (assume that the perpetuity payments start one year from the date of your retirement. The interest rate is 8%) ?

• A) $7,500,000
• B) $750,000
• C) $1,000,000
• D) None of the above

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Definitions:

Low Self-Esteem

A condition characterized by a lack of confidence and feeling unworthy or incapable in one's self-perception.

Fight-Or-Flight

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Stress Response

The body's reaction to any change that requires an adjustment or response.

Biochemical Changes

Alterations at the molecular level within organisms, often as a response to environmental factors or internal processes.