23. Expense Amount Mortgage (monthly) $985.64 Cell phone (monthly) $58.30 Groceries (twice a month) $154.00 Clothing (monthly with 25% job-related) $180.00 Water & electric (monthly) $128.40 Weekly dinner & movie $55.00 Property taxes (6 months) $684.80 Car insurance (quarterly) $330.00 Your realized income is $2,943.20/month. How much are your fixed expenses each month? How much could you save per month if you take 25% of your discretionary monies and put it in a savings account? Be sure to include in your response: the answer to the original question the mathematical steps for solving the problem demonstrating mathematical reasoning
Please help, No Plagirism Please
23.
| Expense | Amount |
|---|---|
|
Mortgage (monthly) |
$985.64 |
|
Cell phone (monthly) |
$58.30 |
|
Groceries (twice a month) |
$154.00 |
|
Clothing (monthly with 25% job-related) |
$180.00 |
|
Water & electric (monthly) |
$128.40 |
|
Weekly dinner & movie |
$55.00 |
| Property taxes (6 months) |
$684.80 |
|
Car insurance (quarterly) |
$330.00 |
Your realized income is $2,943.20/month. How much are your fixed expenses each month? How much could you save per month if you take 25% of your discretionary monies and put it in a savings account?
Be sure to include in your response:
- the answer to the original question
- the mathematical steps for solving the problem demonstrating mathematical reasoning
25. Your gross income is $4,520.00/month. Your deductions are FICA (7.65%), federal tax withholding (11.75%), and state tax withholding (8.5%). Your fixed expenses are 30% of your realized income. You saved 5 months' worth in an emergency fund, placing 75% in a 60-day CD at a 5.25% APR and the rest in a regular savings account at a 3.8% APR. What is the total amount of your emergency fund? How much is in the CD and savings account? How much is the total interest earned between both accounts in 60 days?
Be sure to include in your response:
- the answer to the original question
- the mathematical steps for solving the problem demonstrating mathematical reasoning
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