Management in life liam wants to get an mba from a top business school. he graduated from college several years ago, where he majored in engineering and earned a solid grade point average. after working as an engineer, he has decided he wants to move into management with a focus on strategy. gaining entry to a highly competitive graduate program will require an excellent gmat score. liam decides to take the gmat in october. to achieve this objective, liam has decided to use management by objectives (mbo). answer activities management by objectives step setting a goal a. after studying for a month, liam takes a practice test and scores 40 points higher than he did on his first practice test. developing an action plan b. liam takes the test in october and scores a 720. he goes out to his favorite restaurant to celebrate. reviewing progress c. liam will spend one hour each weeknight and three hours every saturday and sunday studying gmat practice questions. appraising performance d. based on the average test scores of students at his target schools, liam decides he wants to earn a 710 on the gmat.

answer; /// i believe the correct answer is first in, first out(fifo); //

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.