Question

Your realized income from your primary job is $3,076.45/month. Your fixed expenses are 36% of your realized income. How much must you save for an emergency fund of 6 months?

Answer 1

If you would like to know how much money you must save for an emergency fund of 6 months, you can calculate this using the following steps:

36% of $3,076.45 = 36% * 3,076.45 = 36/100 * 3,076.45 = $1,107.522

6 months * $1,107.522 = 6 * 1,107.522 = $6,645.132

The correct result would be $6,645.132.