When You Earn More Than You Spend,you Have a Budget

question 4

Multiple Choice

When you earn more than you spend,you have a budget

• A)surplus.
• B)deficit.
• C)shortfall.
• D)liability.

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Definitions:

Equivalent Interest Rate

A rate that converts interest rates of various compounding periods into an annual rate for comparison purposes.

Nearest 0.01%

Rounding a percentage to the closest one-hundredth of a percent.

Nearest 0.01%

Rounding a number or percentage to the closest hundredth of a percent for precision.

Emotions

Complex psychological states involving physiological arousal, feelings, cognitive processes, and behavioral reactions.