Your Finance Professor Suggests That You Should Have $3,000,000 in Your

question 69

Multiple Choice

Your finance professor suggests that you should have $3,000,000 in your retirement portfolio before you even THINK about retiring.Recently,your aunt sold valuable California real estate and handed you a check for $387,500.(This is the amount you have after paying taxes.She is now your favorite aunt.) How much of the $387,500 must you set aside today if you invest a portion of the money at an annual rate of 7.5% and you wish to retire in 38 years with the amount suggested by your finance professor?

• A)$169,086
• B)$192,132
• C)$306,187
• D)At an annual rate of return of 7.5.0%,$387,500 is not a large enough investment to reach the goal amount of $3,000,000 in 38 years.

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Definitions:

Stimulus

Anything that can invoke a physiological response or reaction from an organism or a cell.

Voltage-Gated Channels

Protein channels in cell membranes that open or close in response to changes in electrical voltage, crucial for nerve impulse transmission.

Depolarization

The process by which a cell's membrane potential becomes less negative, moving towards a more positive charge, typically initiating an action potential.

Activation Gate

A mechanism of ion channels within cellular membranes that allows ions to enter or exit a cell in response to physiological signals.