Important developing or emerging markets include Brazil, Russia, India, Canada, and South Africa, often called "BRICS" for short

The cost of giving up a cash discount is the implied rate of interest paid in order to delay payment of an account payable for an additional number of days

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You have an option on an ARM that has a two-year adjustment interval, 4% margin, 2% periodic rate cap and a 6% lifetime cap. The current initial rate is 5.35%. You can also get a 30-year, fixed-rate mortgage for 6.65%

You plan on staying in this home for at least 10 years. What would be your best choice? A) Probably the ARM loan since your PITI would be lower. B) Probably the ARM loan since your PITI would be lower and the market rates of interest could get lower. C) Probably the fixed-rate loan because your PITI will be lower. D) Probably the fixed-rate loan because it is easier to budget for and it is less risky for you.