Matt Is 25 and Wants to Save $2,000 Per Year

question 47

Multiple Choice

Matt is 25 and wants to save $2,000 per year in an IRA until he retires at age 65. If Matt's investment earns 9%, how much will his IRA be worth when he retires?

• A) $64,030
• B) $579,471
• C) $272,620
• D) $675,780

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Definitions:

Olfactory Epithelium

The specialized tissue in the nasal cavity responsible for detecting odors.

Rods

Photoreceptor cells in the retina of the eye that are highly sensitive to light, making them crucial for vision in low light conditions.

Dim Light

Low-level lighting that is not bright or glaring.

Vision

The ability to see; the sense mediated by the eyes that allows for the perception of light, color, and depth.