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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?
Pure Rate
An interest rate that reflects only the payment for the time value of money, excluding other risk factors or costs.
Economic Models
simplified representations of complex economic processes or systems used to analyze behavior, make predictions, or provide insights into economic decision-making.
Loan
A form of financial agreement in which one party lends money to another, with the expectation that the money will be paid back with interest.
Interest Rate
The cost of borrowing money, expressed as a percentage of the amount borrowed.
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