You deposit $12,000 annually into a life insurance fund for the next 30 years, after which time you plan to retire. If the deposits are made at the beginning of the year and earn an interest rate of 7 %, what will be the amount of the retirement funds at the end of year 30?

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.