You Wish to Save $2,500,000 for Your Retirement by Saving

question 29

Multiple Choice

You wish to save $2,500,000 for your retirement by saving a certain sum every month for the next 40 years.If you can earn 9% compounded monthly,and you make your deposits at the BEGINNING of each month,how much would you have to deposit each month to achieve your objective?

• A) $616.59
• B) $534.04
• C) $565.67
• D) $530.06
• E) None of the above

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Definitions:

Etiology

The study of the causes or origins of a disease or condition, focusing on determining why certain conditions occur.

Mosaicism

A condition in which an individual has two or more genetically different sets of cells in their body.

Translocation

A cause of Down syndrome in which part of the 21st chromosome of the human cell breaks off and attaches to another. Individuals with Down syndrome due to translocation have all of the features found in trisomy 21.

Down Syndrome

A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by physical growth delays, characteristic facial features, and mild to moderate intellectual disability.