Duane and Thad Plan on Retiring 27 Years from Today

question 53

Multiple Choice

Duane and Thad plan on retiring 27 years from today and plan to have the same amount saved at that time. In preparation for this, Duane is depositing $15,000 today at an annual interest rate of 5.2 percent. How will Thad's deposit amount vary from Duane's if Thad also makes a deposit today but earns an annual interest rate of 6.2 percent?

• A) $4,118.42 more
• B) $4,333.33 less
• C) $3,417.09 more
• D) $4,274.12 less
• E) $3,381.39 less

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Definitions:

Cliché Conversation

Superficial or predictable exchanges lacking in depth or originality.

Levels of Self-disclosure

This concept pertains to the degree to which an individual shares personal, private information with others, varying from superficial to deeply intimate details.

Genuine Self-disclosure

The act of openly sharing personal thoughts and feelings with others to build trust and intimacy in relationships.

Open Pane

A term that typically refers to a section of the Johari window model aiming to increase mutual understanding between individuals through feedback and disclosure.