Jada has a financial goal of the minimum for a fully funded emergency fund by March 31st 2022 and it is currently October 1st 2021. She works remotely from home. She gives you the following information: Annual Salary: $48,000 Monthly Rent: $900 Monthly Utilities: $200 Monthly Internet Fiber $120 Monthly Groceries: $600 Annual Gas and Car expenses: $900 Current savings account balance: $ 2,300 @ 2% compounded monthly How much does she need to save at the end of each month in her savings account if she wants to have a full funded emergency fund by March 31st,2022? (answer with a positive number, round to the nearest penny)
Jada has a financial goal of the minimum for a fully funded emergency fund by March 31st 2022 and it is currently October 1st 2021. She works remotely from home. She gives you the following information: Annual Salary: $48,000 Monthly Rent: $900 Monthly Utilities: $200 Monthly Internet Fiber $120 Monthly Groceries: $600 Annual Gas and Car expenses: $900 Current savings account balance: $ 2,300 @ 2% compounded monthly How much does she need to save at the end of each month in her savings account if she wants to have a full funded emergency fund by March 31st,2022? (answer with a positive number, round to the nearest penny)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Jada has a financial goal of the minimum for a fully funded emergency fund by March 31st 2022 and it is currently October 1st 2021. She works remotely from home. She gives you the following information:
Annual Salary: $48,000
Monthly Rent: $900
Monthly Utilities: $200
Monthly Internet Fiber $120
Monthly Groceries: $600
Annual Gas and Car expenses: $900
Current savings account balance: $ 2,300 @ 2% compounded monthly
How much does she need to save at the end of each month in her savings account if she wants to have a full funded emergency fund by March 31st,2022? (answer with a positive number, round to the nearest penny)
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