Your Finance Professor Suggests That You Should Have $2,500,000 in Your

question 23

Multiple Choice

Your finance professor suggests that you should have $2,500,000 in your retirement portfolio before you even THINK about retiring.Recently,your uncle sold valuable California real estate and handed you a check for $300,000.(This is the amount you have after paying taxes.He is now your favorite uncle. ) How much of the $300,000 must you set aside today if you invest a portion of the money at an annual rate of 8.0% and you wish to retire in 35 years with the amount suggested by your finance professor?

• A)$169,086
• B)$14,508
• C)$130,914
• D)At an annual rate of return of 8.0%,$300,000 is not a large enough investment to reach the goal amount of $2,500,000 in 35 years.

---

Definitions:

Metaphorically

Used to describe something by comparing it to another thing in a figurative, non-literal way.

Music Critic

A professional who evaluates and writes about music performances, recordings, and compositions for publications or media outlets.

Symbolic Interactionism

A sociological perspective that analyzes society by addressing subjective meanings that people impose on objects, events, and behaviors.

Blood

A vital fluid in bodies of most organisms, delivering necessary substances such as nutrients and oxygen to cells and transporting metabolic waste products away from those same cells.