You Want to Retire with $370 000 in the Bank

question 139

Multiple Choice

You want to retire with $370 000 in the bank and you are able to earn 4.84% compounded quarterly for the next 25 years. You currently have $175 000 saved up. How much more do you have to invest in 15 years in order to achieve your goal?

• A) $100 649.58
• B) $110 649.58
• C) $120 649.58
• D) $130 649.58
• E) $0.00

---

Definitions:

Buckley Amendment

Refers to the Family Educational Rights and Privacy Act (FERPA), a federal law that protects the privacy of student education records.

FERPA

(Family Educational Rights and Privacy Act of 1974) affirms the right of all individuals to gain access to their school records, including test records.

Reliability

The degree to which an assessment tool produces stable and consistent results over repeated applications under the same conditions.

Cronbach's Coefficient Alpha

Cronbach's Coefficient Alpha is a statistic used to assess the internal consistency or reliability of a set of scale or test items.