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? plz help
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? plz help
Your emergency fund =$700 x 3 =$2,100
10% of $1,100 =$110 decuction per month.
$2,100 / $110 =19 1/11 months to save for emergency fund of 3 months' living expenses.
