When You Retire 36 Years from Now, You Want to Have

question 84

Multiple Choice

When you retire 36 years from now, you want to have $2 million. You think you can earn an average of 11.5% on your investments. To meet your goal, you are trying to decide whether to deposit a lump
Sum today, or to wait and deposit a lump sum 3 years from today. How much more will you have to
Deposit as a lump sum if you wait for 3 years before making the deposit?

• A) $15,344.14
• B) $15,677.78
• C) $16,208.11
• D) $17,021.12
• E) $19,407.78

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Definitions:

Physical Inactivity

A lifestyle characterized by insufficient physical activity, which can lead to health problems such as obesity and chronic diseases.

Colon Cancer

A type of cancer that begins in the colon (the longest part of the large intestine), characterized by the growth of tumors in the colon's inner lining.

Causal Relationship

A connection between variables where a change in one directly causes a change in the other.

HPV Prevalence

The proportion of individuals in a population who are infected with the human papillomavirus at a given time.