Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months’ worth in an emergency fund. If you only want to put 50% of your discretionary monies toward the emergency fund each month, how many months will it take to fully fund it, excluding interest accrual? (Note: Round up to the next whole month.)
Accepted Solution
A:
Firstly:30% of 2,085.44 = 30÷100 x 2085.44then= 1459.80850% of that = 50÷100 x 1459.808= $729.904