Question

Your realized income is 2085.44 and your fixed expenses are 30% you want to save 6 months worth in an emergency fund. How much do you need to save

Answer 1

The correct answer is $3,753.78!

Answer 2

Answer:

8758.848

Step-by-step explanation:

Monthly income = 2085.44

Your fixed expenses per month = 30%

So, expenses per month = $30\% \times 2085.44$

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

                                          = $625.632$

Thus your expenses per month is 625.632

Since we are given that

So, you save per month = 625.632

Since you are required to save for six months.

So, you save in 6 months = $1459.808 \times 6$

                                          = $8758.848$

Hence You need to save 8758.848 .