You Currently Have $150,000 in an IRA Designated for Retirement

question 9

Multiple Choice

You currently have $150,000 in an IRA designated for retirement. If you save an additional $100 at the end of every month and expect to earn an annual return of 12 percent, how much do you expect to have in the IRA in 10 years?

• A) $467,632
• B) $518,062
• C) $732,546
• D) $949,328
• E) $1,215,234

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Definitions:

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity.

Early Retirement Incentive Program

A program that offers workers financial incentives to retire early.

Financial Incentives

Monetary rewards offered to workers or organizations to improve their performance and productivity.

Termination

The act of ending or concluding something, commonly used in the context of employment to refer to the cessation of an individual's job.