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:

Wilcoxon Rank Sum Test

A non-parametric statistical hypothesis test used to compare two independent samples to assess whether their population mean ranks differ.

Wilcoxon Rank Sum Test

A nonparametric test that compares two independent samples to ascertain whether their populations have the same distribution.

Wilcoxon Rank-sum Test

A nonparametric test that compares two independent samples to assess whether their population mean ranks differ, used when data are not normally distributed.

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to determine if they come from the same population.