A Friend of Yours Plans to Begin Saving for Retirement

question 69

Multiple Choice

A friend of yours plans to begin saving for retirement by depositing $2,000 at the end of each year for the next 25 years. If she can earn 10% annually on her investment, how much will she have accumulated at the end of 25 years?

• A) $50,000
• B) $196,692
• C) $100,000
• D) $216,361

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Definitions:

Seligman

A psychologist known for his work on learned helplessness, positive psychology, and theories regarding happiness and well-being.

Csikszentmihalyi

A psychologist known for his work on the concept of flow, a state of intense focus and engagement in activities.

Psychologically Healthy

Pertaining to a state of mental and emotional well-being where an individual realizes their own abilities, can cope with normal stresses, work productively, and contribute to their community.

Treat Disease

The application of medical care or interventions aimed at alleviating symptoms, curing, or managing a disease or medical condition.