120 QUESTION 14 A general rule for savings is you should save at least 8% of you

Question

120 QUESTION 14 A general rule for savings is you should save at least 8% of your take-home income. Tim decides to save 5% of his take-home income. How much is he putting towards his savings each month? QUESTION 15 Another rule of thumb is you should have at least 3 months worth of your take-home income in your savings in case you lose your job or arn emergency occurs. How much is 3 months worth of take-home income? QUESTION 16 Click Save and Submit to sove and submit. Click Save All Answers to save all answers. Save All An math101.pdf Formulas for ch 2... dock

Explanation / Answer

Tim salary is $ 60,000 per year

Per month income is $ 5,000

Question 14

Savings per month = $ 5000 * 5/100 = $ 250

Question 15

3 month of take home income = 60000 * 3/12 = $ 15000

Here savings of

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