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pogonyaev
3 years ago
5

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 mu

ch do you need to save?
I got $625.63 per month. Do I multiply this by the 6 months to get the final answer?
Mathematics
2 answers:
inn [45]3 years ago
7 0

Answer:

$3753.792

Step-by-step explanation:

Given : Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth in an emergency fund.

To Find: How much do you need to save?

Solution:

Income = $2,085.44

Expenses =  30% of income

               =\frac{30}{100} \times 2085.44

              =625.632

So, your expenses per month is 625.632

So, your expenses for 6 months = 625.632 \times 6

                                                      = 3753.792

Since we are given that ou want to save 6 months worth in an emergency fund.

So, you saved 6 months in an emergency fund = $3753.792

Thus you was right . You need multiply  $625.63 with 6 .

Hence the final answer is $3753.792

Leviafan [203]3 years ago
4 0

Answer:

$3753.79

Step-by-step explanation:

To find your emergency fund, you need to get your fixed expenses as the base.

Fixed Expenses = $2085.44 x 0.30

Fixed Expenses = $625.63

Now you need to take your Fixed Expenses and multiply that to the number of months you want to save for.

$625.63 x 6 = $3753.79

So you will need to save $3753.79 for 6 months worth of an emergency fund.

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