You Want to Have $40,000 for a Down Payment on a House

question 52

Multiple Choice

You want to have $40,000 for a down payment on a house 4 years from now.If you can earn 5.6 percent,compounded annually on your savings,how much do you need to deposit today to reach your goal?

• A)$32,166.54
• B)$34,420.73
• C)$27,880.69
• D)$28,211.17
• E)$30,886.40

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Definitions:

Children's Television Act

A law enacted in the United States that requires television broadcasters to offer programming that meets the educational and informational needs of children.

Educational Programming

The planning and implementation of educational activities and curricula designed to achieve specific learning outcomes and objectives.

Acting Deceptively

Engaging in behaviors intended to mislead or deceive others.

Gender Differences

Variations in characteristics, traits, behaviors, or attitudes between males and females.