You Want to Buy a House in 4 Years and Expect

question 140

Multiple Choice

You want to buy a house in 4 years and expect to need $25,000 for a down payment.If you have $15,000 to invest,how much interest do you have to earn (compounded annually) to reach your goal?

• A) 16.67%
• B) 13.62%
• C) 25.74%
• D) 21.53%

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.