You Are Depositing $1,500 in a Retirement Account Today and Expect

question 62

Multiple Choice

You are depositing $1,500 in a retirement account today and expect to earn an average return of 7.5 percent on this money.How much additional income will you earn if you leave the money invested for 45 years instead of just 40 years?

• A)$10,723.08
• B)$11,790.90
• C)$12,441.56
• D)$12,908.19
• E)$13,590.93

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Definitions:

Punitive Damages

Financial compensation awarded to a plaintiff to punish the defendant for particularly harmful behavior and deter future similar actions.

Inherently Dangerous

Refers to activities or substances that, by their nature, pose a significant risk of harm.

Superseding Cause

A superseding cause is an unforeseeable event that interrupts the chain of causation, relieving a defendant from liability for harm caused after the event.

Causal Connection

The relationship between a cause and its effect, denoting how one event is directly responsible for the occurrence of another.