Who Will End Up with the Largest Amount of Money

question 20

Multiple Choice

Who will end up with the largest amount of money invested at an annual rate of return of 9% over the next 42 years?

• A)Jim saves $1,200 per year for the first 14 years and then stops putting any new money into the account for the remaining 28 years.
• B)Jeremy saves nothing for the first 14 years and saves $1,200 per year for the next 14 years and then puts no more money into the account during the last 14 years.
• C)Jerry saves nothing for the first 14 years and then saves $1,200 per year for the remaining 28 years.
• D)Joey saves nothing for the first 14 years and then saves $1,500 per year for 14 years then stops putting any new money into the account for the remaining 14 years.
• E)John saves nothing for the first 10 years and saves $1,500 per year for the remaining 32 years.

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Definitions:

Evolutionary Psychologists

Researchers who study the psychological adaptations of humans to the changing physical and social environment, particularly from a prehistoric perspective.

Pleistocene Age

A geological epoch within the Quaternary period, characterized by several ice ages and the emergence of Homo sapiens.

Heritability

A measure of how much of the variation in a trait within a population can be attributed to genetic differences.

Genetic Similarity

The degree to which the genetic makeup of one individual resembles that of another, often influencing social and familial bonds.