As Jorge Starts Working Now at the Age of 25

question 6

Multiple Choice

As Jorge starts working now at the age of 25, he decides to make regular contributions to a savings account.He wants to accumulate enough by age 55 to fund an annuity of $6,400 per month until age 80.
What should his monthly contributions be? Assume that both accounts pay 7.75%, compounded
Monthly.Round to the nearest cent.

• A)$568.12
• B)$598.02
• C)$589.02
• D)$612.02
• E)$594.02

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Definitions:

Full Range Of Motion

The complete movement potential of a joint, usually its range from flexion to extension.

TBW

Total body water; the total amount of water in the human body, expressed as a percentage of body weight.

Scapula

A large, flat triangular bone on the posterior side of the shoulder, also known as the shoulder blade.

Flexes

Refers to the action of bending a limb or joint.