Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
7th Edition
ISBN: 9780133856439
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 4, Problem CC.7Q
Summary Introduction

To explain:

Whether the family has emergency fund or not and what amount should be the in the emergency fund.

Introduction:

Emergency fund refers to the fund created to meet day to day expenses in case where there is no other money left to meet those expenses. The emergency fund is usually created for 3 to 6 months so that the expenses related to short term can be met easily at the time when there is no income or money.

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