You Want to Have $25,000 for a Down Payment on a House

question 33

Multiple Choice

You want to have $25,000 for a down payment on a house 6 years from now.If you can earn 6.5 percent,compounded annually,on your savings,how much do you need to deposit today to reach your goal?

• A)$17,133.35
• B)$17,420.73
• C)$17,880.69
• D)$18,211.17
• E)$18,886.40

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Dimensional Information

Data or details that pertain to the size, shape, or measurable aspects of objects or phenomena.

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A measure of validity based on the extent to which a test correlates with other measures that it is theoretically expected to correlate with.

Consistency

The quality of always behaving or performing in a similar way, maintaining a uniform approach across different situations.

Brain Waves

The electrical activity in the brain, which is categorized into patterns like alpha, beta, delta, and theta waves, associated with different states of consciousness.