Answered

Welcome to Westonci.ca, where finding answers to your questions is made simple by our community of experts. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.


Joelle wants to have an emergency fund to cover 6 months of her expenses. Her
monthly gross pay is $4,000 and her monthly expenses are $2,000. If she plans to save
10% of her gross pay each month, how long will it take her to build her emergency fund?
3 months
9 months
30 months
24 months

Sagot :

abiolataiwo2015

How long will it take her to build her emergency fund is 30 months

Given:

Gross pay =$4,000

Monthly expenses =$2,000

First step is to calculate her Joelle 6 month expenses

6 months expenses=$2,000 × 6

6 months expenses= $12,000

Second step is to calculate the amount of income Joelle saved each month

Income= 10% × $4,000

Income = $400

Now let calculate how long will it take her to build her emergency fund

Number of months=$12,000/$400

Number of months=30 months

Inconclusion How long will it take her to build her emergency fund is 30 months

Learn more here:

https://brainly.com/question/2389537

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.