You Decide You Want Your Child to Be a Millionaire

question 161

Multiple Choice

You decide you want your child to be a millionaire.You have a son today and you deposit $10,000 in an investment account that earns 7% per year.The money in the account will be distributed to your son whenever the total reaches $1,500,000.How old will your son be when he gets the money (rounded to the nearest year) ?

• A) 82 years
• B) 74 years
• C) 60 years
• D) 49 years

---

Definitions:

Pledge Of Allegiance

A formal expression of loyalty or commitment to a flag, country, or cause, often recited in groups in the United States.

Political Importance

The significance or influence an issue, person, or matter has within the political sphere, affecting decision-making, policy, or power dynamics.

Independence And Identity

The process of developing a sense of self and autonomy, distinguishing oneself from others and making independent decisions.

Developmental Period

A specific time frame in an individual's life characterized by distinct types of growth or change, such as infancy or adolescence.