(1 point)\nyour housing and fixed expenses are $702.38/month.\nyou want to have a 4 - month emergency fund…

(1 point)\nyour housing and fixed expenses are $702.38/month.\nyou want to have a 4 - month emergency fund and save it over a 9 - month period of time. how much do you need to save per month? round to the nearest penny.\n$ \n\n/month

(1 point)\nyour housing and fixed expenses are $702.38/month.\nyou want to have a 4 - month emergency fund and save it over a 9 - month period of time. how much do you need to save per month? round to the nearest penny.\n$ \n\n/month

Answer

Explanation:

Step1: Calculate total emergency fund

The monthly housing and fixed - expenses are $702.38. We want a 4 - month emergency fund. So the total amount of the emergency fund is the monthly expense times the number of months for the fund. $702.38\times4$

Step2: Calculate monthly savings

We want to save this total amount over 9 months. So we divide the total emergency - fund amount by the number of months of the saving period. $\frac{702.38\times4}{9}=\frac{2809.52}{9}\approx312.17$

Answer:

$312.17$