You inherit $300,000 from your parents and want to use the money to supplement your retirement
You receive the money on your 65th birthday, the day you retire. You want to withdraw equal
amounts at the end of each of the next 20 years.
What constant amount can you withdraw each
month and have nothing remaining at the end of 20 years if you are earning 7% interest
compounded monthly?
A) $2,326 B) $1,200 C) $2,943 D) $1,829
A
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Susan, the beneficiary on John's $500,000 life policy, chose life-only as her settlement option. Susan received 5 years of settlement checks from the insurance company, totaling $150,000. How much will Susan's beneficiary receive upon her death?
A) Nothing, because life-only states that when the beneficiary dies, any remaining death benefit is kept by the insurance company B) Susan's beneficiary will receive checks for the rest of his life C) $350,000 minus taxes and fees D) 350000"
A survey is ________ if it produces identical results when repeated under similar conditions
A) valid B) objective C) representative D) bias-free E) reliable