You Want to Be a Millionaire When You Retire in 40

question 101

Multiple Choice

You want to be a millionaire when you retire in 40 years.You can earn A 12.5 percent annual return.How much more will you have to save each month if you wait 10 years to start saving versus if you start saving at the end of this month?

• A)$19.22
• B)$54.13
• C)$108.47
• D)$141.15
• E)$183.38

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Definitions:

Truck Drivers

Individuals who operate trucks to transport goods and materials from one location to another.

Labor Union

An organization formed by workers to protect their rights, improve working conditions, and negotiate wages and benefits with employers.

Union Shop

A workplace where employees are not required to join the union prior to being hired, but must join soon after they start their employment.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given time period.