Use of Financial Calculator TI BA II Plus Required

question 91

Multiple Choice

Use of Financial Calculator TI BA II Plus required. You are reviewing your retirement plan started 15 years ago with a goal to save $265 000. You now want to see if you are on target because you have only 10 years left. You put $200 into an RRSP every month and anticipated a 10 percent rate of return. The present balance of your RRSP is $114 126. Are you on target?

• A)No, after 15 years you should have $159 000.
• B)Yes, after 15 years you only need $82 894.
• C)No, the rate of return expected is too high.
• D)Yes, after 15 years you should have $114 126.

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Definitions:

Assumptive Close

A sales technique that assumes the customer has already agreed to purchase and moves directly to the logistics of the transaction.

Salesperson

An individual who sells products or services, often directly to customers, using persuasive techniques to achieve sales goals.

Acknowledge

The act of recognizing or admitting the existence, truth, or validity of something.

Assumptive Close

A sales technique where the seller assumes that the buyer has decided to make a purchase and moves forward with finalizing the sale, often by discussing next steps or payment options.