Step 2: Start Saving Early Instead of Later
Passage
•
Other
•
9th Grade
•
Hard
Brian Bellamy
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the amount you will have at age 65 if you invest $100 at age 25 with an 8% compound return?
$3,192
$2,172
$1,478
$1,006
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At what age do you need to invest $9,938 to reach $100,000 by age 65 with an 8% compound return?
Age 35
Age 40
Age 45
Age 50
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At what age do you need to invest $46,319 to reach $100,000 by age 65 with an 8% compound return?
Age 55
Age 50
Age 45
Age 40
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much would you need to invest at age 20 to reach $300,000 by age 65 with an 8% annualized return?
$5,000
$9,399
$15,000
$20,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the annualized return is 12%, how much would you need to start with at age 20 to reach $300,000 by age 65?
$1,830
$3,000
$5,000
$9,399
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key concept illustrated by the example of saving $5,000 annually from age 21 to 65?
The importance of high-risk investments
The impact of inflation on savings
The value of early savings and compound interest
The necessity of financial advisors
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of the total savings at age 65 came from the first decade of savings when saving the same amount each year?
55.4%
25%
8%
50%
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