Multiple Choice
Which of the following is an example of the bequest motive for saving?
A) Pat puts $400 per month in his 401(k) retirement account.
B) Jordan sets aside $200 per month in case she has to pay for a new roof for her house.
C) Gerry and Terry put $2,000,000 in a trust fund that will go to their children when they die.
D) Chris keeps $15,000 in a money market account to pay expenses in case he loses his job.
Correct Answer:
Verified
Correct Answer:
Verified
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