When Creating Your Budget, Use

question 81

Multiple Choice

When creating your budget, use:

• A) Money left after taxes and deductions
• B) Money you saved from working
• C) Money you get from your parents
• D) All of the above
• E) None of the above

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Definitions:

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Time Value

The principle that having money now is more valuable than the same sum in the future because of its ability to earn more over time.

Money

A medium of exchange that facilitates the transfer of goods and services and serves as a measure of value and a store of wealth.

Interest

The cost of borrowing money or the payment received for the lending of resources, typically expressed as a percentage rate over a period of time.