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| *Ostroff, Fair and Company>>>Australia Taxes |
Using mathematical knowledge explain the phrase "to assist eligible individuals to save for their retirement" |
My maths assignment is due and i have no idea...please help Boy, word problems have sure gotten tough since I was a kid. This is an economics question, not a maths question. Economics is the science of monetary transactions over time and space. Interdisciplinary crossovers include philosophy, politics, calculus, game theory, and psychology. Economics can be used to understand every interaction between every thing. When one assists "eligible" individuals to save for retirement, one is assisting those who meet a narrow (or perhaps broad) set of parameters to set money aside for future use. Money then grows in the resulting account(s) at some rate, ideally a greater rate than the rate of inflation. The end result is that when they retire they will hopefully have more money than what they began with (adjusted for inflation). The longer the saving time period (i.e., starting when you're twenty), the more money there is when you're an old fart. You should research any homework assignments on your own, using the textbooks provided and supplementing with your own research. Asking others is a crutch. When you are an adult in the working world, there will be days when there is no one to ask. If you learn how to explore the world of knowledge now, and you won't be in a blue funk when you're twenty. |
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