If You Expect to Retire in 30 Years, Are Currently

question 54

Multiple Choice

If you expect to retire in 30 years, are currently comfortable living on $50,000 per year and expect inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years?

• A) $121,363
• B) $95,000
• C) $20,599
• D) $51,500

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Definitions:

Archaea

A category of unicellular microorganisms that are genetically different from both bacteria and eukaryotes, frequently located in harsh environments.

Cell Theory

A fundamental principle in biology stating that all living organisms are composed of cells, which are the basic unit of life, and that all cells come from pre-existing cells.

Matthias Schleiden

A German botanist and co-founder of cell theory, who in 1838 proposed that all plant tissues are composed of cells and that plant growth results from the production and expansion of these cells.

Anton Van Leeuwenhoek

A Dutch scientist known as the "Father of Microbiology" for his pioneering work in the development of the microscope and the discovery of microbial life.