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You have housing and fixed expenses of $813.52/month. You want to have a 6-month emergency fund and you want to have it funded in 18 months. How much must you save per month?


A.) $301.25


B.) $271.17


C.) $266.04


D.) $265.23

Respuesta :

22lorreooeoeiie
The answer will be

B $271.17

Answer:

$271.17

Step-by-step explanation:

Given : You have housing and fixed expenses of $813.52/month.

           You want to have a 6-month emergency fund

To Find: you want to have it funded in 18 months. How much must you save per month?

Solution:

You have housing and fixed expenses of $813.52/month.

So, 6 months emergency funds = [tex]813.52 \times 6 =4881.12[/tex]

You want to have it funded in 18 months

So, you will save per month = [tex]\frac{4881.12}{18}[/tex]

                                               = [tex]271.17[/tex]

Thus Option A is correct.

You have to save  $271.17 per month.