Question

help i will give medal and best answer!

Answer 1

Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth in an emergency fund. How much do you need to save? (1 point)

Answer 2

Is this income for only one month?

Answer 3

i think so

Answer 4

I think what you have to do is this:

multiply the income by 30% (0.30) and then subtract this from the income. The remaining you will be able to save for the month. Since the expenses are fixed for each month, you can multiply the remaining from each month by 6 for 6 months and that will give you how much you need to save for 6 months:

Answer 5

2085.44 • 0.30 = 625.63
2085.44 - 625.63 = 1459.81

1459.81 • 6 = $?

Answer 6

8758.86?

Answer 7

yes

Answer 8

wowo easy im doing the same thing it's
2085.44 is after taxes x 0.70 = 1,459.80 after costs
15% is consumer goods or 1,240.83 balance
6*1240.83 = 7,444.98 which is close to your answer (without eating)

Answer 9

lol

Answer 10

oh, now I see you could also just multiply by 0.70 instead of 0.30 and be able to skip a step :)

Answer 11

wanna help with this one?
Using the information from question #14, if you only want to put 50% of your discretionary monies toward the emergency fund each month, how many months will it take to fully fund it, excluding interest accrual? (Note: Round up to the next whole month.)

Answer 12

is the one we just did q.14?

Answer 13

yup

Answer 14

should i open a new question for it?