Question

Your realized income is $3,167.89/month, and your fixed expenses are $954.32 every 2 weeks. If you save 50% of your discretionary monies each month how much are you saving?

My answer: $633.58/month

Answer 1

My reasoning:
Since fixed expenses are supposed to be 36% of your fixed income per month, and in this question it is 60% of your income, you only have 40% left in discretionary money, which is $1,267.16. 50% of that is my answer.

Answer 2

In normal circumstances you're supposed to have below 36% in fixed expenses and 64% in discretionary money but this question is way different (1,908.64 per month)

Answer 3

well if a gerbil eats 3 bags of food every week, by january I will have won the world games in nashville

Answer 4

:/

Answer 5

You are close but I don't understand your logic.

Your discretionary money is your Salary - Fixed Expenses...

You want to save half of the difference

I got a value a little lower than your answer

Answer 6

@retirEEd
What about my logic don't you understand? Sorry for late reply didn't see your response until just now.

According to my class your discretionary money should be 64% of your income, and your fixed expenses are 36%. But this question is weird because your fixed expenses in this are 60% of your income... so I just assume 40% of it is discretionary.

Answer 7

Discretionary money=$1,267.16
Half of THAT= $633.58/month

I don't know if I'm right or not, wish I saw your reply sooner because you're not on now... :(

Answer 8

I just redid my answer.

3167.89-(954.32*2)=1,259.25
1259.25*.5=629.63

Is this the answer you got? I think I was just overthinking it by using percentages the first time... I now realize how simple this was compared to the way I tried to solve it...

Answer 9

Yes, that is what I got.

Answer 10

I see now. Thanks for making me realize the mistake I made... gave you a medal. :D