Your Aunt Is About to Retire,and She Wants to Sell

question 25

Multiple Choice

Your aunt is about to retire,and she wants to sell some of her stock and buy an annuity that will provide her with income of $53,000 per year for 30 years,beginning a year from today.The going rate on such annuities is 7.25%.How much would it cost her to buy such an annuity today?

• A) $519,610.24
• B) $493,950.47
• C) $756,963.06
• D) $641,494.12
• E) $647,909.06

Understand different perspectives and definitions regarding poverty.

Recognize the impact of unemployment on families and individuals.

Identify factors contributing to homelessness and strategies to mitigate it.

Understand the dynamics of dual-earner families and the challenges they face.

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Definitions:

Work Efforts

The amount of physical or mental energy applied to tasks and objectives within a work environment.

Positive Inequity

A perception where an individual believes they receive more rewards in comparison to their inputs than others.

Negative Inequity

A perception that one's inputs are greater than the outputs received, especially in comparison to others, leading to feelings of unfairness.

Instrumentality

The perceived relationship between performance and the attainment of certain outcomes, an important concept in motivation theories such as expectancy theory.