One Reason Why It Is So Important to Set Goals

question 137

Multiple Choice

One reason why it is so important to set goals and subgoals far in advance is that

• A) people consistently underestimate how long a task will take.
• B) once you have stated the goal, you don't have to think about it any more.
• C) if you have a clear goal, you won't have to work as hard.
• D) most people underestimate their skills, so a goal provides encouragement.

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Definitions:

Quarterly Compounded

Interest that is calculated and added to the principal every three months, increasing the amount on which subsequent interest calculations are based.

Quarterly Compounded

Refers to the calculation of interest that is added to the principal balance of an investment or loan four times a year.

Equivalent Effective Rate

A comparable interest rate that equates the interest earned on different investments or loans over the same time period, taking into account the effects of compounding.

Face Value

The original value of a financial instrument as stated on the instrument itself, without accounting for interest or market value fluctuations.