Travis Invests $10,000 Today into a Retirement Account

question 47

Multiple Choice

Travis invests $10,000 today into a retirement account.He expects to earn 8 percent,compounded annually,on his money for the next 26 years.After that,he wants to be more conservative,so only expects to earn 5 percent,compounded annually.How much money will he have in his account when he retires 38 years from now,assuming this is the only deposit he makes into the account?

• A)$129,411.20
• B)$132,827.88
• C)$134,616.56
• D)$141,919.67
• E)$142,003.12

Learn how to calculate the times interest earned ratio and its significance in assessing financial risk.

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Definitions:

Organizational Psychologist

A specialist in psychology who applies psychological theories and principles to workplace issues, focusing on improving productivity, work-life balance, and employee well-being.

Employee Motivation

The degree of enthusiasm, dedication, and innovation that employees of a company contribute to their roles.

Hired

The process of being given a job or employment by an individual or organization.

Personnel Psychology

A subfield of psychology focused on workplace behavior, including hiring practices, employee motivation, and job performance evaluation.