You Are Saving Money for the Down Payment on a House.If

question 8

Multiple Choice

You are saving money for the down payment on a house.If you can save $7,500 per year for the next five years at an interest rate of 8%,how much will you have saved at the end of five years?

• A)$40,500
• B)$37,500
• C)$44,000
• D)$29,945
• E)$93,750

---

Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often resulting in prejudice and discrimination.

Color-blindness

An approach or ideology that disregards racial and ethnic differences, which can unintentionally perpetuate disparities.

Racism

Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.

Poverty

A socioeconomic condition characterized by a lack of financial resources or means necessary to meet basic needs such as food, shelter, and healthcare.