Question

Li Wei wants to be a doctor. He knows school will cost a lot of money. He would also like a new computer because his may not run much longer. Lei Wei also wants to buy a condo in Florida when he is older. His plan is to start saving for the down payment needed for the condo. Is this a good idea?

A) Yes, it's a good idea to save for education, a computer, and a condo.
B) No, Li Wei should focus on one goal at a time and not try to save for everything.
C) Maybe, Li Wei should consider other investment options before deciding.
D) It depends on Li Wei's financial situation and priorities.

Answer 1

It depends on Li Wei's financial situation and priorities. The correct option is D.

Step-by-step explanation:

The question is whether it is a good idea for Li Wei to save for education, a computer, and a condo. The answer is D) It depends on Li Wei's financial situation and priorities.

Li Wei's goal to become a doctor requires obtaining additional education, which can be costly. He also wants to buy a condo in the future and needs to save for the down payment. However, it's important to consider Li Wei's financial situation and priorities before deciding whether it is a good idea to save for everything.

Li Wei should assess his current financial resources, income, and expenses. He should prioritize his goals and determine how much money he can realistically allocate toward each goal. It may be more feasible for Li Wei to focus on one goal at a time, such as saving for education first, and then saving for a computer and a condo later.