Your Retirement Account Has a Current Balance of $50,000

question 81

Multiple Choice

Your retirement account has a current balance of $50,000. What interest rate would need to be earned in order to accumulate a total of $1,000,000 in 30 years, by adding $6,000 annually?

• A) 5.02%
• B) 7.24%
• C) 9.80%
• D)10.07%

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Definitions:

Hypertension

Elevated blood pressure.

Coronary Artery Disease

A condition characterized by the narrowing of the coronary arteries due to the buildup of plaque, which can lead to reduced blood flow to the heart.

Leukemia

A disease characterized by a great excess of white blood cells; it exists in a lymphatic and myelogenous form; it is often fatal, especially in adults.

Lung Disease

A general term for diseases and disorders that affect the lungs and respiratory system, leading to difficulty in breathing and other related symptoms.