You Wish to Save $500,000 in the Next 25 Years

question 96

Multiple Choice

You wish to save $500,000 in the next 25 years.You notice that a corporate bond fund earns about 11 percent per year and that is where you put your savings.How much must you save each year to obtain your goal?

• A)$20,000.00
• B)$ 3,749.98
• C)$ 4,370.13
• D)$ 2,000.00

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Definitions:

Female Ovaries

Reproductive organs in females that produce eggs and hormones like estrogen and progesterone.

Adrenal Glands

Small glands located on top of each kidney that produce hormones, including adrenaline and cortisol, involved in stress response.

Formal Operational

A stage of cognitive development proposed by Piaget, during which individuals learn to think abstractly and reason about hypothetical problems.

Postconventional

A stage in moral development where individuals base their moral decisions on internal principles and the concept of justice, beyond societal norms.