Jeff Willis Has a Budget That He Follows Each Month

question 19

Multiple Choice

Jeff Willis has a budget that he follows each month.He has used spreadsheet software to help him determine what he wants to spend each month.At the end of the month,the spreadsheet software automatically compares what he budgeted with what he spent.Jeff can also graph these results if he wants to.What type of budget has Jeff created?

• A)Mental budget
• B)Physical budget
• C)Written budget
• D)Computerized budget
• E)None of these

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Definitions:

Annual Rate of Growth

The yearly percentage increase in the size or value of something, commonly used in economic or investment contexts.

Equivalent Annual Compounded

The annual interest rate that is equivalent to the nominal rate compounded more frequently than once a year.

Rate of Return

The profit or deficit experienced on an investment, calculated over a particular duration and shown as a fraction of the investment's original value.

Rental Income

Income received from renting out a property or another asset.