After Watching "Who Wants to Be a Millionaire," You Have

question 92

Multiple Choice

After watching "Who Wants to Be a Millionaire," you have decided you want to join the millionaire's club. Your goal is to have $1,000,000 in 35 years. If you can invest in a mutual fund that you project will earn a 10% return, how much must you invest each year to meet your goal? (Round to nearest $)

• A)$2,852
• B)$3,690
• C)$4,357
• D)$5,119

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Definitions:

Disinflation

A reduction in the rate of inflation; a slowdown in the rate at which prices increase.

1960s

A decade of significant cultural, political, and technological change, marked by movements for civil rights, space exploration, and the emergence of counterculture.

1970s

A decade characterized by various global events, including economic changes, political realignments, and significant cultural evolution.

1980s

A decade marked by significant cultural, political, and technological changes around the world, including the end of the Cold War and the beginning of the personal computing revolution.