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Your realized income from your primary job is $3,076.45/month. Your fixed expenses are 36% of your realized income. How much must you save for an emergency fund of 6 months?

Sagot :

DerpyWolvesidn
He would need to save $6,645.13 for an emergency fund of 6 months.  I found this by first dividing 3,076.45 by 100 to get 30.7645, I then multiplied that by 36 to get 1,107.52, which is one month of expenses.  I then multiplied that by 6 to get 6,645.13.
Abiolataiwo2015idn

The amount you must for an emergency fund of 6 months is:$6,645.132.

Emergency fund

First step

Fixed expenses:

Fixed expenses=36/100 ×3,076.45

Fixed expenses = $1,107.522

Second step

Emergency fund:

Emergency fund=6 months ×$1,107.522

Emergency fund=$6,645.132

Inconclusion the amount you must for an emergency fund of 6 months is:$6,645.132.

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