If Your Parents Put $2,000 a Year into an IRA

question 108

Multiple Choice

If your parents put $2,000 a year into an IRA account for you in each of your last 4 teenage years (age 16,17,18, and 19) , how much would the IRA account have in it at your retirement 45 years later if the account earned 12% each year? (Assume end-of-year payments.)

• A)$1,569,758
• B)$68,613
• C)$3,457,169
• D)$1,148,958

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Definitions:

Healthy Aging

The process of developing and maintaining functional ability that enables wellbeing in older age.

Low Cholesterol Level

An abnormally low concentration of cholesterol in the blood, which can lead to health issues despite cholesterol's negative reputation at high levels.

Pessimism

A mindset or attitude characterized by the expectation that the worst will happen or that conditions in the future will deteriorate.

Problem-Focused Coping

Attempting to alleviate stress directly—by changing the stressor or the way we interact with that stressor.