Marcus set a goal to buy a used car in the next few months. He plans to make a $2500 down payment and has already saved $1300. If he can save $150 each month for this goal, how long will it take him to save the entire the rest of the money?

MONEY MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	6 months
B	8 months
C	10 months
D	12 months

Explanation:

Detailed explanation-1: -There are several important factors that influence decision making. Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance.

Detailed explanation-2: -Convenience debt is when you use credit to buy something expensive and pay over a long period of time. A car loan is an example of convenience debt.

Detailed explanation-3: -Answer and Explanation: The main goal of personal financial planning is to achieve a financial plan.

Detailed explanation-4: -1) Identify your Financial Situation The first stage of the financial planning process constitutes assessment on what is happening in your life right now and how you can change your financial situation.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY MANAGEMENT