Help.

You earn $17.50/hr and work $40 hr/wk. Your deductions are FICA (7.65%), federal tax withholding(12.3%) and state tax withholding(6.2%). your housing and fixed expenses are 30% of your realized income per month. You want to save 5 months' worth in an emergency fund within a year. How much do you need to save per month to fund the emergency fund, and how much discretionary money remains per month?

Question

Help.

You earn $17.50/hr and work $40 hr/wk. Your deductions are FICA (7.65%), federal tax withholding(12.3%) and state tax withholding(6.2%). your housing and fixed expenses are 30% of your realized income per month. You want to save 5 months' worth in an emergency fund within a year. How much do you need to save per month to fund the emergency fund, and how much discretionary money remains per month?

anonymous · Answer

Steps?

anonymous · Answer

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