Answer to Question #178879 in Financial Math for David

Question

Assume you are going to college and you work a part-time job. You are living in an apartment with some friends.

Your total monthly income is $1818. Your monthly expenses are $1287.

You want to put 13% away into a savings account.

How much would you put away into a savings account?

Answer 1

Total income is $1,818.

Monthly expenses is $1,287

Saving at 13%

$Saving=0.13\times1,818=236.34$

Monthly saving will be $ 236.34