Rapidly Retiring Baby Boomers Make Up Only a Quarter of the U.S.population,but

question 136

True/False

Rapidly retiring baby boomers make up only a quarter of the U.S.population,but account for 50 percent of all domestic consumer spending.

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Definitions:

Equivalent Interest Rate

The interest rate that gives the same compounded financial outcome as other rates calculated over different time periods.

Nearest 0.01%

Rounding off a numerical figure to the closest one hundredth of a percent.

Equivalent Interest Rate

A rate that provides the same accumulated interest as would be obtained from several other interest rates over a given time period.

Nearest 0.01%

Adjusting a value so that it is close to an exact hundredth of a percent, enhancing precision.