By 2030, According to Projections, People Over the Age of Sixty-Five

question 26

Multiple Choice

By 2030, according to projections, people over the age of sixty-five will represent what percentage of the U.S.population?

• A)2 percent
• B)20 percent
• C)30 percent
• D)50 percent

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Definitions:

Withdrawals

The act of taking money out of an account, fund, or similar financial vehicle.

Invest

To allocate money in the expectation of some benefit in the future, usually through the purchase of assets with the hope that they will increase in value.

Ordinary Annuity

Continuous uniform payouts effected at every period’s cessation over a stipulated time frame.

Compounded Quarterly

A method of calculating interest where the interest earned is added to the principal four times a year, leading to interest on interest.