Jim Will Retire in 30 Years $\quad \$ 469,966$ B) $\$ 422,933$

question 270

Multiple Choice

Jim will retire in 30 years.He will invest $200 each month for 15 years and then let the accumulated value continue to grow for the next 15 years.How much will be available at retirement? Assume 11%,
Compounded monthly.Round to the nearest dollar.

• A) \(\quad \$ 469,966\)
• B) \(\$ 422,933\)
• C) \(\quad \$ 446,482\)
• D) \(\$ 451,127\)
• E) \(\quad \$ 469,924\)

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Definitions:

Profit Margin

The amount by which revenue from sales exceeds costs in a business, expressed as a percentage of total sales.

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the net profit by the initial cost of the investment.

Increase in Income

An upward movement in earnings or revenue, signaling growth or improvement in financial performance.

Variable Cost

A cost that changes in proportion with the level of output or activity; in contrast to fixed costs, which remain constant regardless of activity.