You Are Planning Your Retirement and You Come to the Conclusion

question 32

Multiple Choice

You are planning your retirement and you come to the conclusion that you need to have saved $1,250,000 in 30 years.You can invest into an retirement account that guarantees you a 5% annual return.How much do you have to put into your account at the end of each year to reach your retirement goal?

• A) $81,314.29
• B) $18,814.30
• C) $23,346.59
• D) $12,382.37

---

Definitions:

Monotremes

A group of egg-laying mammals that includes the platypus and echidnas.

Marsupials

Mammals that carry and nourish their newborns in an external pouch, including species such as kangaroos, koalas, and opossums.

Placentals

Mammals that nourish their developing fetus via a placenta, an organ that facilitates the exchange of nutrients, gases, and wastes between the mother and fetus.

Notochord

A flexible rod-shaped structure that provides support in the embryonic stages of all chordates, including humans.