You Want to Have $25,000 Saved 6 Years from Now

question 60

Multiple Choice

You want to have $25,000 saved 6 years from now to buy a house.How much less do you have to deposit today to reach this goal if you can earn 5.5 percent rather than 5 percent on your savings? Today's deposit is the only deposit you will make to this savings account.

• A)$524.24
• B)$691.18
• C)$724.60
• D)$745.11
• E)$819.02

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Definitions:

Psychological Barriers

Mental or emotional obstacles that hinder communication or the progress of an individual.

Listening

The active process of receiving and understanding messages communicated by others through sounds or gestures.

Communication Technology

Tools and systems used for the transmission, reception, and processing of data and information, enabling faster and more efficient communication.

Workforce

The group of employed individuals or the labor pool in any given organization or economic sector.