How Much Do You Need When You Retire to Provide

question 66

Multiple Choice

How much do you need when you retire to provide a $2,500 monthly check that will last for 25 years? Assume that your savings can earn 0.5% a month.

• A) $361,526.14
• B) $388,017.16
• C) $402,766.67
• D) $414,008.24

---

Definitions:

Extinction

In a behavioral context, extinction is the process of reducing or eliminating a learned response, typically by no longer providing the reinforcement that maintained the behavior.

Behavioral Modeling

The process of learning how to act or behave by observing and imitating the actions of others, often used in organizational training and development.

Self-Reinforcement

The process of rewarding oneself to reinforce desired behavior or achievements.

Behavior Modification

Behavior modification is a treatment approach, based on the principles of operant conditioning, that replaces undesirable behaviors with more desirable ones through positive or negative reinforcement.