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Author Question: If you are undecided as to whether you should rent or buy a piece of equipment that you use on a ... (Read 53 times)

dejastew

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on: Jun 24, 2018
If you are undecided as to whether you should rent or buy a piece of equipment that you use on a regular basis, what steps can you take to help make your decision?

Question 2

What are the two types of income that are included in a budget? Give an example of each.


jesse.fleming

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Reply #1 on: Jun 24, 2018
Answer to Question 1

Calculate the annual cost of renting the equipment. Then calculate how many years it would take for the rental price to exceed the purchase price. If the rental price quickly exceeds the purchase price, it may be a good idea to purchase the equipment.

Answer to Question 2

fixed income, example: weekly wages or monthly salary; variable income, example: stock dividends


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