Larissa Is Saving Each Month to Accumulate $10,000 in Six

question 54

Short Answer

Larissa is saving each month to accumulate $10,000 in six years. Her account pays 4.25% compounded quarterly. What amount should Larissa deposit monthly to reach her goal? How much interest does Larissa earn?

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Definitions:

Counter-conditioning

A behavior therapy technique where a positive response is conditioned to replace a negative or undesirable response to a particular stimulus.

Therapeutic Goals

Objectives set during therapy sessions aimed at resolving psychological problems and improving mental health.

Solution-focused Therapy

A goal-directed collaborative approach to psychotherapeutic treatment that emphasizes resolving current problems and finding solutions rather than focusing on past issues.

Narrative Therapists

Professionals who apply narrative approaches in therapy, emphasizing the power of storytelling in shaping identity and overcoming difficulties.