Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. Which statement is true?

Question

Business

Mireya Strong

30 May, 21:01

Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. Which statement is true?

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Answers (1)

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Triston Edwards · Answer 1

"Joaquin should take the class because a promotion will mean a larger salary over the long term compared to a single cash advantage" statement is true.

Explanation:

The promotion campaign aims at raising awareness, building curiosity, generating sales or creating brand loyalty. Thus Joaquin should devote for classes of vocational training by investing money in order to learn promotion techniques and advantages which can benefit him in large scale in future rather than investing money for saving for retirement purpose. Because it is slow-process with consistency. It is considered as single cash advantage, where one time money is saved and will be benefited only after retirement that also limited.