Question

Your realized income is $2,847.69/month. your fixed expenses are 36% of your monthly income. you decide to save 40% of your discretionary monies each month. how much do you save per month?

Answer 1

Realized income: $2,847.69

Fixed expenses = 36% or .36

Savings = 40% or .4

Step 1: ( $2,847.69 )( .36 ) = $1,025.1688 ~ $1,025.17

Step 2: $2,847.69 - $1,025.17 = $1,822.52

Step 3: ( $1,822.52 )( .4 ) = $729.008 ~ $729.01

Answer 2

Answer: $ 729.00864 can be saved per month.

Explanation:

Since, the total monthly income = $ 2,847.69

Fixed expenses = 36% of the total monthly income

= 36% of 2847.69

= 0.36 × 2847.69

= $ 1,025.1684

Thus, the discretionary monies = Total income - Fixed expenses

= 2,847.69 - 1,025.1684 = $ 1822.5216

Hence, Total saving = 40% of the discretionary monies

= 40% of 1822.5216

= 0.40 × 1822.5216

= $ 729.00864

⇒ We can save $ 729.00864 per month.