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

question 157

Multiple Choice

When you retire thirty years from now, you want to have $750,000. You think you can earn an average of 9% on your money. To meet this goal, you are trying to decide whether to deposit a lump
Sum today, or to wait and deposit a lump sum five years from today. How much more will you have
To deposit as a lump sum if you wait for five years before making the deposit?

• A) $28,788.03
• B) $29,414.14
• C) $30,447.52
• D) $36,118.09
• E) $38,278.27

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Definitions:

Providing Direction

The act of guiding or instructing others in a course of action or towards achieving a goal.

Performance Standards

The expectations set for the level of performance or achievements that must be met in various tasks or roles.

Drive Production

The motivation and energy directed towards increasing productivity and efficiency in a manufacturing or production process.

Leader Position Power

The authority and influence a leader holds by virtue of their role or position within an organization.