What budgeting option is best used only with limited resources and expenses?
a. mental budgeting
b. physical budgeting
c. written budgeting
d. software budgeting

a.Mental budgeting

Explanation:

Mental budgeting refers to the use of one's cognitive abilities to plan for incomes and track down expenditure. It involves the mental separation of economic categories of income and expenses.  A household practicing mental budgeting does not make written plans for its expected revenues or how its income will be spent.

Mental budgeting is applicable where income is low, or the amount being budgeted for is little. The figures involved can be memorized easily, and the budget lines are few.

When the budget amount is huge, mental budgeting can lead to over or under consumption. Confusion is likely to occur, such that a that a firm or individual may borrow and save simultaneously.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

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