You Are 30 Years Old and You Want to Retire

question 2

Multiple Choice

You are 30 years old and you want to retire at age 60 with $1.5 million.You are going to make equal annual deposits into your savings account at the end of each year in order to save up this money.Your savings account pays 8% interest.What amount must you deposit each year?

• A) $13,241.15
• B) $12,160.93
• C) $14,227.80
• D) $13,274.34
• E) $14,506.85

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Definitions:

Calcaneus

Also known as the heel bone, the calcaneus is crucial for walking, running, and jumping, absorbing impact and providing leverage.

Conoid Tubercle

A small, bony prominence on the inferior surface of the clavicle, which serves as a ligament attachment site.

Coracoid Process

A small hook-like structure on the lateral edge of the superior anterior portion of the scapula (shoulder blade).

Acromial End

This refers to the lateral end of the clavicle that articulates with the acromion of the scapula.