Moses' Goal, When He Retires from Work in Seven Years

question 231

Multiple Choice

Moses' goal, when he retires from work in seven years, is to have $400,000 in his Retirement Fund. Assuming he achieves his goal and the fund earns 7% compounded semi-annually after he retires, Moses will, at the end of every six months, take $20,000 out of his Retirement Fund. For how long will he be able to do that before the money runs out?

• A) 15.4 years
• B) 35.0 years
• C) 20.0 years
• D) 12.9 years
• E) 17.5 years

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Definitions:

Superego

In psychoanalytic theory, the part of the personality that acts as the moral center, enforcing ethical conduct and societal norms.

Motives

The reasons behind an individual's actions, desires, and needs which drive their behavior.

Underlying Conflict

A deep-seated disagreement or struggle, often unconscious, that may manifest in behaviors or psychological symptoms.

Controlling the Id

Managing or regulating the part of the psyche associated with instinctual desires and drives, in favor of social conformity and norms.