Alexis Wants to Have Saved $600 000 by the Time

question 3

Multiple Choice

Alexis wants to have saved $600 000 by the time she retires at age 60.She is turning 46 in the next week and has accumulated $220000 in her RRSP accounts.Assuming she can continue to get a 6% annual return on her RRSP investments,how much does she need to keep saving at the end of each month to reach her goal?

• A)$2262
• B)$1467
• C)$2102
• D)$396

---

Definitions:

Total Institution

A concept defined by sociologist Erving Goffman as a place of residence and work where a large number of similarly situated individuals, cut off from the wider society, together lead an enclosed, formally administered life.

Live-In Rehabilitation

A treatment program where individuals reside in a facility to receive continuous support and intervention for addiction, physical, or psychological conditions.

Social Communication

The process of using verbal and nonverbal messages to share information, ideas, and feelings with others in a social context.

Generalized Other

A concept in sociology that refers to the general notion that a person has of the common expectations and attitudes prevalent within the broader society.