You Want to Retire with $400 000 in the Bank

question 147

Multiple Choice

You want to retire with $400 000 in the bank and you are able to earn 6% compounded quarterly for the next 25 years. How much money do you have to invest today in order to achieve your goal?

• A) $90 251.78
• B) $90 251.77
• C) $90 001.78
• D) $90 201.77
• E) $90 001.77

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Definitions:

Role Of Corporations

The influence and responsibilities of large business entities in society, including economic, social, and environmental impacts.

Federal Government

The national government of a federal state, which shares sovereignty with the constituent states or provinces, responsible for the nation's defense, foreign policy, and interstate commerce.

Nonaggression Pact

A nonaggression pact is an agreement between two or more countries to not engage in military action against each other for a specified period of time.

Soviet Union

A socialist state in Eurasia that existed from 1922 to 1991, characterized by a single-party system led by the Communist Party.