You Just Graduated and Landed Your First Job in Your

question 140

Multiple Choice

You just graduated and landed your first job in your new career.You remember that your favorite finance professor told you to begin the painless job of saving for retirement as soon as possible,so you decided to put away $2,000 at the end of each year in a Roth IRA.Your expected annual rate of return on the IRA is 7.5%.How much will you accumulate at retirement after 40 years of investing? (Note: this may assume that you are even retiring early.)

• A) $94,426
• B) $247,921
• C) $1,088,632
• D) $454,513

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Definitions:

Control Function

A management activity that involves monitoring performance, comparing it with goals, and taking corrective action as needed.

Environmental and Behavioral Obstacles

Challenges or barriers arising from the physical setting or individual actions that hinder progress towards achieving a goal.

Formulating Strategies

The process of creating plans and actions that define the direction of an organization or individual to achieve specific goals.

Implementing Strategies

The action phase where planned strategies are executed to achieve the organization's objectives.