A Friend of Yours Plans to Begin Saving for Retirement

question 69

Multiple Choice

A friend of yours plans to begin saving for retirement by depositing $2,000 at the end of each year for the next 25 years. If she can earn 10% annually on her investment, how much will she have accumulated at the end of 25 years?

• A) $50,000
• B) $196,692
• C) $100,000
• D) $216,361

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Definitions:

Nonpolar Covalent

Nonpolar Covalent bonds are chemical bonds where two atoms share a pair of electrons equally, resulting in molecules that have no overall dipole moment.

Polar Covalent

A type of chemical bond where electrons are unequally shared between atoms, leading to a distribution of charge.

Proton Acceptor

A substance that receives hydrogen ions in a chemical reaction.

Proton Donor

A substance that can release (donate) a proton (H+ ion) in a chemical reaction, typically an acid in a chemical context.