You Want to Have $32,000 for a Down Payment on a House

question 30

Multiple Choice

You want to have $32,000 for a down payment on a house 5 years from now.If you can earn 4.3 percent, compounded annually on your savings, how much do you need to deposit today to reach your goal?

• A)$25,925.58
• B)$28,179.77
• C)$21,639.73
• D)$21,970.21
• E)$24,625.44

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Definitions:

Meta-Analyses

Meta-analyses involve statistically combining results from multiple studies to determine the overall trend or effect, often used in research to draw conclusions from a broad data set.

Evidence-Based Treatment

Therapeutic practices that are supported by scientific evidence, showing effectiveness in improving client outcomes.

Disorders

Disruptions or dysfunctions in mental health, behavior, or bodily functions that can significantly impair individual functioning and well-being.

Effect Sizes

A statistical measure that quantifies the degree of difference or relationship present between two variables, helping to understand the magnitude of findings in research.