Roxanne Began Saving for Retirement at Age 23 When She

question 54

Multiple Choice

Roxanne began saving for retirement at age 23 when she graduated college.She wants to have $2.3 million dollars in her retirement account when she reaches age 55.If she deposits $9,000 each year in an account earning an 11% Annual Rate of Return,will she achieve her goal in time?

• A)Yes,she will have over $2.3 million dollars in the account.
• B)No,she will have less than $2.3 million dollars in the account.

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Definitions:

Statement Form

A type of logical expression that, when specific values are substituted for its variables, becomes a statement which can be either true or false.

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Scientists who study celestial bodies such as planets, stars, and galaxies.

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A belief system that suggests a connection between the positions of celestial bodies and events on Earth, often used for predictions.

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A type of fungus with a stem, cap, and gills or pores, some of which are edible or have medicinal properties.