You Have Been Told That You Need $32,000 Today for Each

question 30

Multiple Choice

You have been told that you need $32,000 today for each $100,000 you want when you retire 28 years from now.What rate of interest was used in the present value computation? Assume interest is compounded annually.

• A)4.15 percent
• B)4.37 percent
• C)4.29 percent
• D)4.53 percent
• E)4.58 percent

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Definitions:

Confidence Interval

An array of values derived from statistical analysis of a sample, likely including the value of an unknown population metric.

Average Time

The mean duration or period taken by a set of events or tasks, calculated by dividing the sum of all times by the number of events.

Race Times

The durations taken to complete a race, often used in statistical analyses to compare the performance of different athletes or conditions.

Government Employees

Individuals who work within the various branches of the government (national, state, local) and are paid through the public sector budget.