Clara Is Setting Up a Retirement Fund, and She Plans

question 14

Multiple Choice

Clara is setting up a retirement fund, and she plans on depositing $5,000 per year in an investment that will pay 7% annual interest. How long will it take her to reach her retirement goal of $69,082? (^{PV of $1}, ^{FV of $1}, ^{PVA of $1}, and ^{FVA of $1}) (Use appropriate factor(s) from the tables provided.)

• A) 20 years
• B) 13.816 years
• C) 10 years
• D) 0.072 years
• E) 5 years

Comprehend the relationship between sales forecasting and marketing planning.

Understand the evolution of marketing concepts and strategies over time.

Grasp the significance of niche marketing and its contrast with mass marketing.

Learn about the psychological factors, including cognitive dissonance, affecting consumer decisions.

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Definitions:

Psychologists

Professionals who study mental processes and human behavior by observing, interpreting, and recording how people relate to one another and to their environments.

Mental Framework

The structure of concepts, beliefs, or perceptions through which an individual interprets and interacts with the world.

Casual Friday

A workplace dress code policy allowing employees to wear more casual attire on Fridays.

Self-Concept

An individual's perception of themselves, incorporating beliefs, attitudes, and feelings about one's own identity and capabilities.