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barrelracer23
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Can someone PLEASE help me with this problem???!!!!!!
36.
You earn $17.50/hr and work 40 hr/wk. Your deductions are FICA (7.65%), federal tax withholding (12.3%), and state tax withholding (6.2%). Your housing and fixed expenses are 30% of your realized income per month. You want to save 5 months' worth in an emergency fund within a year. How much do you need to save per month to fund the emergency fund, and how much discretionary money remains per month?
 one year ago
 one year ago
barrelracer23 Group Title
Can someone PLEASE help me with this problem???!!!!!! 36. You earn $17.50/hr and work 40 hr/wk. Your deductions are FICA (7.65%), federal tax withholding (12.3%), and state tax withholding (6.2%). Your housing and fixed expenses are 30% of your realized income per month. You want to save 5 months' worth in an emergency fund within a year. How much do you need to save per month to fund the emergency fund, and how much discretionary money remains per month?
 one year ago
 one year ago

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Algebraic! Group TitleBest ResponseYou've already chosen the best response.0
find monthly income... find 5 times that amount.. divide by 12
 one year ago

Algebraic! Group TitleBest ResponseYou've already chosen the best response.0
that's how much you need to save per month
 one year ago

Algebraic! Group TitleBest ResponseYou've already chosen the best response.0
subtract the deductions from your monthly income...
 one year ago

Algebraic! Group TitleBest ResponseYou've already chosen the best response.0
subtract the payments into savings from what remains... that's your discretionary amount.
 one year ago

Algebraic! Group TitleBest ResponseYou've already chosen the best response.0
any questions about any of those steps?
 one year ago
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