Question

your realized income is 3167.89/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

Answer 1

Answer:

each month, you are saving 629.625

Step-by-step explanation:

Your income is 3,167.89 each month.

Every 2 weeks, your fixed expenses are 954.32.

=> Average fixed expenses for 1 week is: 954.32 / 2= 477.16

As there are 4 weeks in each month, so that your fixed expenses each month are: 477.16 x 4 = 1,908.64

Your discretionary money for each month = Your monthly income - Your monthly fixed expenses = 3,167.89 - 1,908.64 = 1,259.25

=> Your discretionary money for each month is 1,259.25

As you save 50% of discretionary money each month, so that your monthly saving can be calculated as following:

Monthly saving = Monthly discretionary money x 50%

= 1,259.25 x 50 / 100 = 629.625

So that each month, you are saving 629.625