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11 April, 06:36

Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth in an emergency fund. How much do you need to save?

I got $625.63 per month. Do I multiply this by the 6 months to get the final answer?

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  1. 11 April, 06:53
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    NO since interest rates are usually based off the business year you would multiply $625.63 by 1/2 of the year (which is 6 months) and your answer should be $312.82
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