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

8758.848

Explanation:

Monthly income = 2085.44

Your fixed expenses per month = 30%

So, expenses per month =
`30\% * 2085.44`

=
`(30)/(100)* 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 * 6`

=
`8758.848`

Hence You need to save 8758.848 .