If His Savings Account Had Earned a More Conservative 9

question 80

Multiple Choice

If his savings account had earned a more conservative 9% annual rate of return,Arnold's savings would be approximately ________ less by age 68.

• A)$4,132
• B)$62,585
• C)$167,805
• D)$1,871,663

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Definitions:

Verbal Promise

An agreement or commitment made orally rather than in written form; its enforceability varies depending on the nature of the agreement and the context under law.

Executor

A person or institution appointed by a testator to carry out the terms of their will.

Charitable Tax Relief

Financial deductions available to taxpayers who make contributions to legally recognized nonprofit organizations.

Valid and Enforceable

Pertaining to a contract or agreement that is legally binding and can be upheld in a court of law.