Assume That You Contribute $100 Per Month to a Retirement

question 115

Multiple Choice

Assume that you contribute $100 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $200 per month for another 20 years. Given a 6 percent interest rate, what is the value of your retirement plan after 40 years?

• A) $225,353
• B) $19,155
• C) $245,353
• D) $199,359

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Definitions:

Thoracic Cavity

A large body cavity in humans and many animals that houses the lungs and heart, among other organs, located between the neck and the abdomen.

Sternum

A long, flat bone located in the central part of the chest, connecting the rib bones and supporting the collar bone.

Anatomy Programs

Educational courses or software that teach the structure of living organisms, particularly the human body.

Laboratory Settings

Environments specifically designed for scientific experimentation, research, and testing, equipped with specialized equipment and materials.