Your Retirement Account Has a Current Balance of $50,000

question 79

Multiple Choice

Your retirement account has a current balance of $50,000.You plan to add $6,000 a year to the account for each of the next 30 years.Use a financial calculator or Excel to find what interest rate you need to earn in order to have $1,000,000 in the account at the end of the 30 years.?

• A) 5.02%
• B) 7.24%
• C) 9.80%
• D) 10.07%

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Definitions:

Monocyte

Type of white blood cell; large phagocytic white blood cell that moves from the blood into tissues and becomes a macrophage.

Macrophage

A type of white blood cell that engulfs and digests cellular debris, foreign substances, and pathogens, playing a key role in the immune system.

Infected Tissue

Body tissues that have been invaded by pathogenic microorganisms such as bacteria, viruses, or fungi, leading to disease.

Prostaglandins

A group of physiologically active lipid compounds having diverse hormone-like effects in animals, such as regulating inflammation and body temperature.