Answer:
FINAL ANSWER
$628.95
Explanation:
Your realized income is $3,167.89/month, and your fixed expenses are $954.32/every 2 weeks. If you save 50% of your discretionary monies each month, how much are you saving?
$628.95/month
To find the amount saved each month, we need to first calculate the total discretionary income for the month. Since fixed expenses are paid every 2 weeks, we need to multiply the biweekly amount by 2 to get the monthly amount:
$954.32/2 weeks x 2 = $1,908.64/month
Then we can subtract the fixed expenses from the monthly income to get the discretionary income:
$3,167.89/month - $1,908.64/month = $1,259.25/month
To find how much is saved each month, we can multiply the discretionary income by 50%, since the question tells us that 50% of discretionary monies are saved:
$1,259.25/month x 50% = $628.95/month
Rounding this amount to the nearest penny gives us the final answer:
$628.95 ≈ $628.95