When Computing the Number of Deposits Needed to Accumulate a Future

question 105

True/False

When computing the number of deposits needed to accumulate a future sum, it will take longer if the interest rates are higher, holding the future value and deposit size constant.

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Definitions:

Deed Of Trust

A formal written instrument that transfers legal ownership of real property to a third party while the mortgagor remains on the property. The third party holds certain rights to that property as security for the mortgagor’s creditors.

Disinterested Third Party

A disinterested third party is an unbiased individual or entity that is not involved in the matters at hand, ensuring impartiality in decision-making processes or disputes.

One Percent

Often refers to the segment of the population that holds a disproportionately large share of wealth and economic power.

Security Interest

A legal right or claim on assets granted to a creditor to secure the repayment of a debt or obligation.