You Want to Be a Millionaire When You Retire in 40

question 101

Multiple Choice

You want to be a millionaire when you retire in 40 years.You can earn A 12.5 percent annual return.How much more will you have to save each month if you wait 10 years to start saving versus if you start saving at the end of this month?

• A)$19.22
• B)$54.13
• C)$108.47
• D)$141.15
• E)$183.38

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Definitions:

IQ

A measure of a person's intelligence as indicated by an intelligence test, representing a score derived from standardized assessments designed to test various aspects of cognitive ability.

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A condition resulting from not having enough sleep; it can be either chronic or acute.

Long-term Effects

The consequences or outcomes that persist over an extended period following an event or action.

Breastfeeding

The act of feeding a baby with milk directly from the mother's breast, providing essential nutrients and antibodies.