You Want to Retire in 25 Years and You Have

question 19

Multiple Choice

You want to retire in 25 years and you have just inherited $300,000. You believe you will need $1,450,000 upon retirement. What rate will you need to earn on the account to achieve this goal?

• A) 4.5 percent
• B) 5.5 percent
• C) 6.5 percent
• D) 8.5 percent

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Definitions:

Norm Of Reciprocity

A social standard that expects individuals to respond to each other's actions with similar actions, promoting cooperation and fairness.

Favors Of The Same Size

Acts of kindness or assistance that are comparable in magnitude or extent.

Use Of Pressure

The application of force or influence to persuade or compel someone to act in a certain way.

Power Holder

An individual or entity that possesses control or authority over others, typically within a specific context such as an organization or society.