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

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Definitions:

Harm Model

A conceptual framework used to evaluate or predict the negative impacts of a policy, action, or system.

Aggression

Various activities that have the potential to inflict physical or emotional injury on the individual, others, or environmental elements.

Quid Pro Quo

A Latin term meaning 'something for something,' referring to a mutual exchange or agreement where one thing is given in return for another.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature that affects an individual's employment, interferes with their work performance, or creates a hostile work environment.