Suppose You Invest $1,000 into a Mutual Fund That Is

question 37

Multiple Choice

Suppose you invest $1,000 into a mutual fund that is expected to earn a rate of return of 10%.The amount of money will you have in 10 years is closest to which of the following? The amount you will have in 50 years is closest to which of the following?

• A) $386; $9
• B) $2,594; $45,259
• C) $2,594; $117,391
• D) $3,138; $ 1,311,892

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Definitions:

Financially Self-Sufficient

The ability to support oneself without external assistance, based on personal income or savings.

Independence

The state of being self-sufficient and not reliant on others for decision-making, support, or sustenance.

Grandparenting

The role and activities associated with being a grandparent, which can include nurturing, mentoring, and providing emotional and financial support to grandchildren.

Lonely

A feeling of sadness or isolation resulting from a lack of social connections, companionship, or meaningful relationships.