Lori is a student who teaches golf on Saturdays. In a year, she earns $20,000 after paying

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Lori is a student who teaches golf on Saturdays.

In a year, she earns $20,000 after paying her taxes. At the beginning of 2021, Lori owned

$1,000 worth of books, clothes, and golf clubs and she had $5,000 in a savings account at the bank. During 2021, the interest on her savings account was $300 and she spent a total of

$15,300 on consumption goods and services.

There was no change in the market values of her books, clothes, and golf clubs.

a. How much did Lori save in 2021?

b. What was her wealth at the end of 2021?

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:02 PM

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Lori is a student who teaches golf on Saturdays. In a year, she earns $20,000 after paying

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Step by Step Answer:

a To calculate how much she saved in 2021 we need to subtract her total spending from her total ...View the full answer

Economics

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