If You Want to Own $1 Million When You Retire

question 23

Multiple Choice

If you want to own $1 million when you retire in 45 years,how much should you put into your retirement fund now,given the interest rate is 3 percent?

• A)$265,439.
• B)$250,005.
• C)$436,770.
• D)$275,389.

---

Definitions:

Joining The Crowd

The act of assimilating with a larger group, often to feel a sense of belonging or to conform to group norms and behaviors.

Milgram's Study

A series of social psychology experiments conducted by Stanley Milgram, which explored obedience to authority figures by having participants administer what they believed were electric shocks to another person.

Crowd Formation

The process by which individuals come together to form a large group, often in response to an event, interest, or common goal.

Deindividuation

A psychological state where an individual loses self-awareness and personal accountability in groups, often leading to uncharacteristic behavior.