Which of the Following Long-Term Goals Is Stated Most Clearly

question 84

Multiple Choice

Which of the following long-term goals is stated most clearly using the SMART approach?

• A) Buy a car for less than $15,000 within 6 months
• B) Retire in 10 years at age 65
• C) Purchase a house with a mortgage no greater than $150,000 within 5 years
• D) Set up an emergency fund
• E) Invest $50 per month for the next 12 years for my nephew's college fund

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Definitions:

Cut-Price Store

A retail outlet offering goods for sale at significantly reduced prices, often specializing in discounts or bulk purchasing options.

Bailment

Represents a legal relationship in commercial law where physical possession of personal property is transferred from one person to another under the agreement that the property will be returned.

Coat

An outer garment worn outdoors, typically extending below the hips and having sleeves.

IPhone

A smartphone model designed and marketed by Apple Inc., known for its innovative technology and operating system.