Solve. -Looking Ahead to Retirement, You Sign Up for Automatic Savings

question 95

Multiple Choice

Solve.
-Looking ahead to retirement, you sign up for automatic savings in a fixed-income 401K plan that pays6.5% per year compounded annually. You plan to invest $2,500 at the end of each year for the next 10years. How much will your account have in it at the end of 10 years?

• A)$33,736
• B)$35,506
• C)$32,193
• D)$35,034

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Definitions:

Association Areas

Regions of the cerebral cortex that integrate simpler functions to perform more complex functions like learning, remembering, and speaking.

Somatosensory Cortex

A part of the brain responsible for processing sensory information from various parts of the body, related to touch, temperature, and body position.

Hippocampus

An area in the brain linked to the development of memory and the ability to find one's way through space.

Fraternal Twins

Twins that develop from two separate eggs fertilized by different sperm cells, sharing about 50% of their DNA, similar to regular siblings.