Don Wants to Have $50,000 Available in 10 Years for Retirement

question 56

Multiple Choice

Don wants to have $50,000 available in 10 years for retirement living expenses and health care.If he earns an average of 8% on his investments,what amount must he invest each year?

• A) $3,453
• B) $5,000
• C) $4,372
• D) $4,003

---

Definitions:

More Equal

A phrase describing a reduction in disparities or inequalities, typically in contexts related to income, wealth, or opportunities.

Wealth Distribution

The manner in which wealth is distributed among the individuals in a society.

Income Inequality

Income inequality describes the extent to which income is distributed unevenly among a population.

Unequally Distributed

Refers to an unequal allocation or distribution of resources, wealth, or opportunities among different individuals or groups.