You Have Just Made a $1,500 Contribution to Your Individual

question 53

Multiple Choice

You have just made a $1,500 contribution to your individual retirement account.Assume you earn a 12 percent rate of return and make no additional contributions.How much more will your account be worth when you retire in 25 years than it would be if you waited another 10 years before making this contribution?

• A)$8,306.16
• B)$9,658.77
• C)$16,311.18
• D)$16,907.17
• E)$17,289.75

---

Definitions:

Copula

A verb used to link the subject of a sentence with a predicate (a subject complement), such as the verb "to be."

Standard Form

A conventionally agreed-upon format for presenting arguments or expressions to simplify identification and analysis of logical structure.

Motto

A short sentence or phrase that encapsulates the beliefs or ideals guiding an individual, family, or institution.

Standard Form

A prescribed or agreed format or approach that is widely accepted and used for a particular purpose.