Multiple Choice
You have just made your first $5,000 contribution to your retirement account.Assuming you earn a rate of return of 5 percent and make no additional contributions, what will your account be worth when you retire in 35 years? What if you wait for 5 years before contributing?
A) $26,335.37; $23,011.60
B) $27,311.20; $29,803.04
C) $27,311.20; $22,614.08
D) $27,580.08; $21,609.71
E) $31,241.90; $32,614.08
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Tomas earned $89 in interest on his
Q48: You want to have $35,000 in cash
Q49: Lew has $3,600 that he wants to
Q50: Rob wants to invest $15,000 for 7
Q51: Which one of the following will increase
Q53: You have been told that you need
Q54: The present value of a lump-sum future
Q55: Roberto just deposited $11,500 into his savings
Q56: Today, you deposit $2,500 in a bank
Q57: The future value of a lump-sum investment