Grieg landscaping began construction of a new plant on december 1, 2014. on this date, the company purchased a parcel of land for $139,000 in cash. in addition, it paid $2,000 in surveying costs and $4,000 for a title insurance policy. an old dwelling on the premises was demolished at a cost of $3,000, with $1,000 being received from the sale of materials. architectural plans were also formalized on december 1, 2014, when the architect was paid $30,000. the necessary building permits costing $3,000 were obtained from the city and paid for on december 1 as well. the excavation work began during the first week in december with payments made to the contractor as follows. date of payment amount of payment march 1 $240,000 may 1 330,000 july 1 60,000 the building was completed on july 1, 2015. to finance construction of this plant, grieg borrowed $600,000 from the bank on december 1, 2014. grieg had no other borrowings. the $600,000 was a 10-year loan bearing interest at 8%. instructions compute the balance in each of the following accounts at december 31, 2014, and december 31, 2015. (round amounts to the nearest dollar.) (a) land. (b) buildings. (c) interest expense.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer: d. characteristics of guests

explanation: it is directly related to the spending characteristics of attendees who fall into each of these categories:

answer decisions made by individual households and firms;