Question

You will be answering by filling in the blanks. Please be aware that your answer must include any commas or

decimals in their proper places in order to be correct. The dollar signs have been provided. For example, if the
answer is $1,860.78, then you will enter into the blank 1,860.78. Do not place any extra spaces between numbers,
commas, or decimal places. Round any decimals to the nearest penny when the answer involves money, so that
$986.526 would be typed into the blank as 986.53 and $5,698.903 would be typed into the blank as 5,698.90.
4
11. Your realized income is $3,167.89/month, and your fixed expenses are $954.32/every 2 weeks. (1 point)
If you save 50% of your discretionary monies each month, how much are you saving?
$
/month

Answer 1

Explanation:

it just means that you save 50% (half) of the money you have left after deducting your expenses.

now, there is a little problem with the problem description (please send my regards to your teacher), as a month is usually a little bit longer than 2×2 weeks.

if this was defined that way on purpose, then we need to do a whole year calculation of 12 months and 52 weeks and then cut the result back to 1/12 (a month) of the year.

otherwise we would simply calculate 1 month with 2×2 weeks.

so, I will do it twice here : one for the precise annual calculation, and one for the rough monthly calculation.

you need to pick from these two approaches what you actual need.

1. precise annual calculation :

the annual (12 months) income is

12 × $3,167.89 = $38,014.68

the annual deductions (52/2 = 26 times) are

26 × $954.32 = $24,812.32

the amount of money left at your disposal is then

$38,014.68 - $24,812.32 = $13,202.36

half (50%) of that is

13,202.36/2 = $6,601.18

so, you are saving over the course of a whole year

$6,601.18.

that is per month

6,601.18/12 = $550.0983333... ≈ $550.10

2. rough monthly calculation (1 month, 2×2 weeks) :

your income = $3,167.89 per month.

your deductions per month = 2×954.32 = $1,908.64.

that means you have left every month

3,167.89 - 1,908.64 = $1,259.25

half (50%) of that you save, which is

1,259.25/2 = $629.625 ≈ $629.63

you see the difference between the precise and the rough calculation.

I would use 1. because of the strange problem definition.

but you know better what your teacher wants.