Shaun Barringer Has Started on His First Job

question 70

Multiple Choice

Shaun Barringer has started on his first job. He plans to start saving for retirement. He will invest $5,000 at the end of each year for the next 45 years in a fund that will earn an annual return of 10 percent. How much will Shaun have at the end of 45 years? (Round to the nearest dollar.)

• A) $2,667,904
• B) $3,594,524
• C) $1,745,600
• D) $5,233,442

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Definitions:

Substitution

The act of replacing one item or choice with another due to differences in price, availability, or quality, influencing consumer behavior and market dynamics.

Productive Resources

The resources utilized in the creation of products and services, such as land, workforce, funds, and entrepreneurial skills.

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific time frame.