The Number of Personal Financial Records a Household Has to Organize

question 7

Multiple Choice

The number of personal financial records a household has to organize may seem overwhelming. How long should you keep documents relating to the purchase and sale of real estate?

• A) Until the mortgage is paid off
• B) Until you move out of the house
• C) Three years
• D) Seven years
• E) Indefinitely

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Definitions:

Inflation

The tempo at which prices for general goods and services ascend, leading to a depreciation in money's buying strength.

Government

The organization or system through which a society or community is ruled, often responsible for creating and enforcing laws, policies, and regulations.

Hyperinflations

Extremely high and typically accelerating inflation rates, leading to a rapid erosion of the real value of local currency.

Inflation Tax

The revenue the government raises by creating money