When You Retire 40 Years from Now,you Want to Have

question 4

Multiple Choice

When you retire 40 years from now,you want to have $1.2 million.You think you can earn an average of 12 percent on your investments.To meet your goal,you are trying to decide whether to deposit a lump sum today,or to wait and deposit a lump sum 2 years from today.How much more will you have to deposit as a lump sum if you wait for 2 years before making the deposit?

• A)$1,414.14
• B)$2,319.47
• C)$2,891.11
• D)$3,280.78
• E)$3,406.78

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Definitions:

Correlated

When two or more variables are related in some way, with changes in one variable associated with changes in another.

Personal Spheres

Involve the distinct areas or aspects of an individual's life that are considered private and personal, often protected from external intrusion or scrutiny.

Social Coordination

The process by which individuals manage their interactions and activities with others to achieve shared goals, involving communication, joint attention, and mutual adjustment.

Preferences

Individual choices or inclinations towards certain options over others, often based on personal taste or value.