If Cole Wants to Retire with Income of $2,000 Per $\$ 1,200,000$

question 9

Multiple Choice

If Cole wants to retire with income of $2,000 per month, how much principal is necessary to generate this amount of monthly interest income if the interest rate is 6%?

• A) \(\$ 1,200,000\)
• B) \(\$ 12,000\)
• C) \(\$ 400,000\)
• D) \(\$ 33,333\)
• E) \(\$ 144,000\)

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Definitions:

Big Five Model

A framework used to describe human personality through five distinct traits: emotional stability, openness to experience, conscientiousness, extroversion, and agreeableness.

Labels People

The practice of classifying individuals based on characteristics, often leading to stereotyping.

Scoring

The process of assigning values or points to various outcomes or performances, often used in assessments and evaluations.

Engaged

Fully involved or occupied with a particular activity or task.