To Determine How Much You Would Need to Save Each

question 65

Multiple Choice

To determine how much you would need to save each year to reach a specific goal, you would use

• A) present value of $1.
• B) future value of $1.
• C) present value of an annuity.
• D) future value of an annuity.

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Definitions:

Genetic Factors

Those hereditary qualities and genes inherited from parents that influence physical and behavioural characteristics.

Depression

A mood disorder that causes a persistent feeling of sadness and loss of interest, affecting how one feels, thinks, and handles daily activities.

Internal

Pertaining to or situated within something; inner, especially referring to processes or phenomena occurring within an entity or organism.

Stable

Referring to a condition or situation that is not undergoing significant change or variation and is steady or unchanging over time.