Shaun Barringer Has Started on His First Job

question 87

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 a 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:

Conscience

A gut feeling or internal speech perceived as directing someone towards what is morally correct or incorrect in their conduct.

Postconventional Morality

A stage in moral development characterized by an understanding that laws and rules are relative and moral reasoning is based on abstract principles and the welfare of others.

Parenting Practices

Parenting practices involve the strategies and methods used by caregivers in the raising and guidance of children, with variations influenced by cultural, social, and individual factors.

Emerging Adulthood

A phase of the life span between adolescence and full-fledged adulthood, characterized by exploration of identity, instability, self-focus, and feeling in-between, typically ranging from ages 18 to 25.