The Amount You Must Deposit Now in Your Savings Account

question 49

Multiple Choice

The amount you must deposit now in your savings account paying 6% interest in order to accumulate $6000 for a down payment 5 years from now on a new car is

• A) $1200.
• B) $4484.
• C) $4477.
• D) $4200.

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Definitions:

Generalist Practitioner

This term refers to professionals, often in fields such as social work, who are equipped with a broad range of skills to address various problems and client needs.

Client Systems

In social work, refers to the networks of individuals, groups, and communities that clients interact with, impacting and being impacted by their environment.

Resources

Various types of assets that can be drawn upon by individuals or organizations to function effectively, including natural, human, financial, and technological.

Generalist Intervention Model

A practice model in social work that guides professionals through a multistep process to assess cases, plan interventions, implement change strategies, and evaluate outcomes for individuals, families, groups, and communities.