When You Retire You Expect to Live for Another 30

question 142

Multiple Choice

When you retire you expect to live for another 30 years.During those 30 years you want to be able to withdraw $4,000 at the BEGINNING of every month for living expenses.How much money do you have to have in your retirement account to make this happen.Assume that you can earn 8% on your investments.

• A) $545,133.98
• B) $1,440,000.00
• C) $548,768.20
• D) $673,625.34

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Definitions:

Theory Y

A management assumption that employees are naturally motivated, seek responsibility, and can make thoughtful and beneficial contributions to the organization.

Self-direction

Self-direction involves individuals taking initiative and responsibility for their actions and learning, guiding themselves towards their goals and personal growth.

Employee Involvement

This concept refers to strategies and practices that allow employees to contribute ideas, suggestions, and feedback concerning business operations, which can lead to improved performance and job satisfaction.

Modified Contingency

A concept in management where strategies are adjusted based on the situational variables and contexts involved.