If a person spends $18 a week on coffee (assuming $900 annually), the money would be worth $7,725 in 8 years if it were placed into an account generating 2%.
Define the monthly contribution you'll make (P), the period-to-period return rate (r), and the total number of periods you'll contribute (n). Subtract one from and divide the result by r. Multiply the result by P and you will obtain the future value of an annuity.
Here
Annual deposit amount = $ 900
Number of years = 8
Interest Rate = 2%
Using the Future Value Annuity Table, the future value of the retirement account will be determined.
FVAF (2%, 8 years) = 8.583
Future Value = 900 × 8.583 = $7,725
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Opposite of a budget surflus
D. ad populum
when he says, "I'm not alone in this opinion. ... 74% of Americans agree with me.", he's implying his opinion is right just because it's popular. that's what an ad hominem argument is.
The value of what you forgo in order to attend the party is known as the opportunity cost. due to you Normally studying at home, the advantage of the party outweighs the potential cost (such as a greater that you would have learned from studying that evening (for homework or a test).
<h3>What is meant by opportunity cost?</h3>
In other terms, opportunity cost is the other option or opportunity you must forgo in order to pursue your preferred alternative. It is, to put it simply, what we have to give up in order to act.
For instance, if you attend your friend's birthday celebration, you will undoubtedly miss your preferred study period for the exam the following day. This may result in a gorgeous crimson "F" on your exam paper, which would be a terrible loss. For this reason, sane people who are aware that they are not intelligent enough to review for the test while intoxicated in five minutes typically opt to stay at home and study. The inability to study for your exam in this instance is a lost opportunity.
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