Approximately How Much Should Be Accumulated by the Beginning of Retirement

question 71

Multiple Choice

Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years, during which time the fund will earn 8 percent interest with monthly compounding?

• A)$261,500.00
• B)$323,800.00
• C)$578,700.00
• D)$690,000.00 PV = $2,500
• = $2,500 [149.925-20.405]
• = $2,500 [129.52]

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Definitions:

Reinforcer

A stimulus that, when presented after a behavior, increases the likelihood of that behavior being repeated.

Cumulative Recorder

A device used in behavioral psychology to visually represent the rate of responses over time in a graph form.

Shaping

A method of teaching or behavior modification that involves reinforcing successive approximations toward a desired behavior.

Shaping

The process of reinforcing successive approximations to a desired behavior.