Jane Has Been Saving $500 in Her Retirement Account Each

question 74

Multiple Choice

Jane has been saving $500 in her retirement account each month for the last 20 years and plans to continue contributing $500 each month for the next 20 years. Her account has been earning an 8 percent annual interest rate and she expects to earn the same rate for the next 20 years. Her twin brother, Hal, has not saved anything for the last 20 years. Due to sibling rivalry, he wants to have as much as Jane is expected to have at the end of 20 years. If Hal expects to earn the same annual interest rate as Jane, how much must Hal save each month to achieve his goal?

• A) $1,043.71
• B) $1,517.92
• C) $2,007.53
• D) $2,963.40

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Definitions:

Team-Maintenance Role

A role within a team focused on maintaining harmonious relationships and a positive working environment among team members.

Task-Facilitating Role

A role within a group or team aimed at helping achieve its objectives through specific actions and support.

Team Evolution

The process through which a team develops over time, often moving through stages of forming, storming, norming, and performing.

Assertive

A communication style characterized by confidence and directness, while still respecting others' rights and feelings.