actually econ 101 would teach that it is better to pay out over time than a lump sum all at once assuming the figures are the same.
a sum of 1000 dollars paid now would be MUCH more costly than the same amount paid in small increments over the course of several years. ($1000 now > $1000 in the future).
i suggest you research the phrase "time value of money".
good luck in your future economic endeavors!
this is the exact sort of problems that i did in my first econ class.
Comments
actually econ 101 would teach that it is better to pay out over time than a lump sum all at once assuming the figures are the same.
a sum of 1000 dollars paid now would be MUCH more costly than the same amount paid in small increments over the course of several years. ($1000 now > $1000 in the future).
i suggest you research the phrase "time value of money".
good luck in your future economic endeavors!
this is the exact sort of problems that i did in my first econ class.