Question

How would you compare a medium-term savings goal to a long-term savings goal? Select the best answer.(1 point) Responses A medium-term goal focuses on saving for large purchases; a long-term goal focuses on saving for retirement. A medium-term goal focuses on saving for large purchases; a long-term goal focuses on saving for retirement. A medium-term goal focuses on building an emergency fund; a long-term goal focuses on building a retirement fund. A medium-term goal focuses on building an emergency fund; a long-term goal focuses on building a retirement fund. A medium-term goal focuses on saving for retirement; a long-term goal focuses on saving for emergencies. A medium-term goal focuses on saving for retirement; a long-term goal focuses on saving for emergencies. A medium-term goal focuses on saving for large purchases; a long-term goal focuses on saving for an emergency. A medium-term goal focuses on saving for large purchases; a long-term goal focuses on saving for an emergency.

Answer 1

The best answer is: A medium-term goal focuses on saving for large purchases; a long-term goal focuses on saving for retirement.

This response accurately captures the typical distinction between medium-term and long-term savings goals, highlighting their respective purposes.