Question

Your fixed expenses are $1,235. 78/month. You want to save 5 months' worth for an emergency

Answer 1

Answer:

  $514.91

Step-by-step explanation:

You want to save a total of ...

  5 × $1235.78

You want to do this over a 12-month period. So, you want to save 1/12 of this total each month. The amount you're saving each month is ...

  5(1235.78)/12 = 514.908333... ≈ 514.91

You must save $514.91 each month to reach the goal.