Ian Would Like to Save $2,000,000 by the Time He

question 29

Multiple Choice

Ian would like to save $2,000,000 by the time he retires in 30 years. If he believes that he can achieve a 6% rate of return, how much does he need to deposit each year, starting one year from now, to achieve his goal?

• A) $12,065
• B) $37,500
• C) $5,790
• D) $25,298

---

Definitions:

Bystander Role

The position or perspective of an individual who observes, but is not directly involved in, a situation, incident, or problem.

Proposal Outcome

The result or effect of a plan or suggestion that has been formally put forward for consideration.

Zoning Board

A local government body responsible for determining land use and zoning decisions within a municipality.

Halfway House

A transitional living facility for individuals recovering from addiction or transitioning from prison back into society.