Valerie intends to pay off her loan in 15 months. This goal is an example of which type?

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Prepare for the TExES Business and Finance 276 Test. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

Multiple Choice

Valerie intends to pay off her loan in 15 months. This goal is an example of which type?

Explanation:
Time horizon for goals determines how we categorize them. A payoff planned in 15 months stretches past one year, so it’s treated as a long-term financial goal. It isn’t immediate, and it isn’t short-term since it goes beyond a year. While some frameworks might place 15 months in the medium-term range, this convention labels it as long-term.

Time horizon for goals determines how we categorize them. A payoff planned in 15 months stretches past one year, so it’s treated as a long-term financial goal. It isn’t immediate, and it isn’t short-term since it goes beyond a year. While some frameworks might place 15 months in the medium-term range, this convention labels it as long-term.

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