Question

Help With Consumer Math!?!?!?!
1. Which is an example of a savings instrument? (1 point)
certificate of deposit (CD)
checking account
cash
credit card

2. You need to have an emergency fund that can cover _____ months of your fixed expenses. (1 point)
1 to 3
4 to 5
3 to 6
5 to 7

Answer 1

1. i think it might be certificate of deposit . i took this class but i think it is that one.

Answer 2

3 to 6 months

Answer 3

its 3to6

Answer 4

what @Martinaa said @l_o_w_key its 3 to 6

Answer 5

Rent payment
$953.20/month

Auto payment
$165.87/month

Telephone
$56.98/month

Auto insurance
$714.36/six months

Once-a-week outing
$35.00/week

3. Using the table, what are your total monthly fixed expenses?



4. Your realized income is $2,412.54/month. How much discretionary monies do you have each month?

Answer 6

.If you lose your job

you still need a place to live, so you need to still pay rent.--add this amount
you still need transportation, so you need to still pay your auto payment--add this amount
you could cancel your phone, depending on whether you have another or whether you have a cancellation fee--you could argue this either way; most likely, you'll keep paying this, so add it
you are still being covered by your auto insurance, which will come due, so you need to save for that inevitable date--add 1/6th of the insurance premium
you won't die if you don't go out, especially if it's between that and having a place to live--do not add this. The only reason you would have to add this is if you were committed to an organization that would cost more to take a leave of absence from than to continue paying the weekly fees or if this outing is mandatory for your health, i.e. an AA meeting and this is your lifeline to keeping sober. If either of these is true, you'll need to add this in----$35 a week = how much a month? This could be tricky because most months have more than exactly 4 weeks. You could say 35 a week * 26 weeks in half year / 6 months = average monthly cost over 6 full months.

Add all of the things that are mandatory above. Be ready to argue why you kept something in or left something out.

4.
Does your homework actually say "discretionary monies"? Source, def.5--singular
You have calculated how much you need to survive in the above problem. Assuming "realized income" means the same as "net income" (after taxes), subtract that from your income. If you chose to remove the luxury items from your fixed expenses, you shouldn't have to do anything different, because going out with the guys/girls once a week IS discretionary spending.

Answer 7

did you get this off of yahoo answers?

Answer 8

no why?

Answer 9

cuz i looked this question up and got the same thing.. lol

Answer 10

well i didnt xD