Those Who Are Considered the Transient Poor Are Defined as Those

question 90

Multiple Choice

Those who are considered the transient poor are defined as those who spend:

• A)at least two consecutive months within a year in poverty.
• B)three or more years in poverty.
• C)two or more years in poverty.
• D)at least six consecutive months within a year in poverty.

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Definitions:

Deposits

Funds placed into an account in a bank or financial institution for safekeeping or to earn interest.

Compounded Monthly

Describes the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a monthly basis.

Mortgage

A loan used to purchase real estate, secured by the property itself, which the borrower is obligated to pay back with a predetermined set of payments.

Balance

The amount of money in a financial repository, such as a bank account, at any given time, or the equilibrium state of an account after considering all debits and credits.