How Much Can Be Accumulated for Retirement If $2,000 Is

question 13

Multiple Choice

How much can be accumulated for retirement if $2,000 is deposited annually, beginning 1 year from today, and the account earns 9% interest compounded annually for 40 years?

• A) $87,200.00
• B) $675,764.89
• C) $736,583.73
• D)$802,876.27

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Definitions:

Marketplace

An arena for buying and selling goods and services, which can be physical like a store or digital like an online platform.

Target Market

A specific group of consumers at which a company aims its products and services.

Profit

The financial gain obtained when the revenue from business operations exceeds the expenses, taxes, and costs associated with running the business.

Skilled Employees

Workers who possess specialized training, knowledge, or expertise, making them valuable assets to organizations in achieving operational efficiency and competitive advantage.