Luxury items in a budget come from : D. Saving
People tend to buy luxury items after the other crucial needs are met, which means that it will be most likely that the budget came from the income that is intended for saving
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Answer:
Present Value of Annuity is $1,263,487
Explanation:
A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity.
Formula for Present value of annuity is as follow
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
Where
P = Annual payment = $91,000
r = rate of return = 5.15%
n = number of years = 25 years
PV of annuity = $91,000 x [ ( 1- ( 1+ 0.0515 )^-25 ) / 0.0515 ]
PV of Annuity = $1,263,487
<span>their primary difference can be defined as two companies that have different : business models
Amazon provide a medium so other sellers could sell their books through their sites. This way, they won't need any space for their house cause they sell other's product.
Meanwhile, barnes and nobles is a book retailer, which means they produce and put their own books to the stores.</span>
Answer:
Saving can only be done in person. Investing can be done both in-person and online.
Explanation:
Saving refers to keeping some funds aside for use during emergencies. Individuals and institutions also save as a way of accumulating funds for a specific intention. Banks and other deposit-taking institutions offer saving services to pool funds and lend them for investment and consumption.
Saving will attract lower interest rates, sometimes below the inflation rate. Banks offer lower rates on saving and charges a higher interest rate to borrowers to make profits. Because saving offer lower returns, they are suitable for short-term periods. Savings are relatively safer than investment.
Investments offer higher returns but have a higher risk. Due to their price volatility, investments are suited for the long-term to safeguard against price fluctuations.
