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 2017, Lori owned $1,000 worth of books, DVDs, and golf clubs and she had $5,000 in a savings account at the bank. During 2017, 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, DVDs, and golf clubs.
a. How much did Lori save in 2017?
b. What was her wealth at the end of 2017?
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