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Eve earns $68,000 per year as a lecturer. Each year, she spends $36,000. She gives $1,000 to charity and pays $16,000 in taxes. Of the money she has left, she saves $13,000 and invests $2,000 in the stock
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Eve earns $68,000 per year as a lecturer. Each year, she spends $36,000. She gives $1,000 to charity and pays $16,000 in taxes. Of the money she has left, she saves $13,000 and invests $2,000 in the stock market. Calculate her personal savings rate. Round to the nearest whole percentage point.

User ToTheMax
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4 votes

Answer:

Eve's personal saving rate is 22%

Step-by-step explanation:

Personal saving rate = savings/ income

($2,000+$13,000)/$68000 X 100

$15000/$68000 X 100 = 22.05%

Roundest to the nearest whole percentage = 22%

User John Perrin
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