Assignment on saving vs spending

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Saving vs. Spending.

Omar received $1,525 in gifts when he graduated from high school. His parents want him to save the money for college, but Omar wants to buy new clothes, a watch, some CDsm and a video game. He also needs new tires because the ones on his car are badly worn. Omar asks you for advise. How should he spend his graduation money?

Discuss what Omar should do with his money. Consider the various financial opportunity costs and the time value of money.

Reference no: EM132911921

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