Karrie is a golf pro, and after she paid taxes, her income from golf and interest from financial assets were $1 comma 500 comma 0001,500,000 in 20172017. At the beginning of 20172017, she owned $800 comma 000800,000 worth of financial assets. At the end of 20172017, Karrie's financial assets were worth $1 comma 300 comma 0001,300,000. How much did Karrie save during 20172017? How much did she spend on consumption goods and services?

How much did Karrie save during 2017?

How much did she spend on consumption goods and services?

Explanation:

Karrie's after taxes net income for 2017 = $1,500,000

Beginning assets 2017 = $800,000

Ending assets 2017 = $1,300,000

Karrie's savings = amount by which her assets increased during the year:

$1,300,000 - $800,000 = $500,000

Karrie's consumption = net income - savings = $1,500,000 - $500,000 = $1,000,000

An individual either spends or saves the money that he/she earns, so any money not saved can be considered money spent.

answer; institution based;