Multiple Choice
You have just landed your first job. Part of the offer includes a $4,000 new employee bonus which is intended to cover your relocation costs. You have determined that you can move yourself for
$1,000. Thus, you have decided to open an Individual Retirement Account with the remaining
$3,000. How much more will this investment be worth 35 years from now if you can earn an
Average rate of return of 9.5% rather than 9%?
A) $10,639.32
B) $10,676.16
C) $11,207.91
D) $11,341.41
E) $11,454.54
Correct Answer:
Verified
Correct Answer:
Verified
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