SOLUTION: Your goal is to have an emergency fund equal to 3 months living expenses. Your living expenses are $700 a month. Your take-home pay per month is $1,100, and you plan to put 10% tow
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-> SOLUTION: Your goal is to have an emergency fund equal to 3 months living expenses. Your living expenses are $700 a month. Your take-home pay per month is $1,100, and you plan to put 10% tow
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Question 948848: Your goal is to have an emergency fund equal to 3 months living expenses. Your living expenses are $700 a month. Your take-home pay per month is $1,100, and you plan to put 10% toward your emergency fund each month. How long will it take you to reach your goal? Answer by macston(5194) (Show Source):
You can put this solution on YOUR website! Your goal is (3 months)($700/month)=$2100
10% of $1100/month=(0.10)($1100)=$110/month
$2100/$110/month=19.09 months ANSWER: It would take 19.09 months to put $2100 in your emergency fund.
