Benjo has a monthly income of $2500. After taking into account taxes and other deductions, his disposable

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Benjo has a monthly income of $2500. After taking into account taxes and other deductions, his disposable income is $1900. He has $270 in net cash flows each month based on his current level of expenses. Benjo has decided to deposit his monthly net cash flows in a savings account. He would like to establish an emergency fund equal to six months’ worth of expenses. Approximately how many months will it take Benjo to reach his goal?

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Personal Finance

ISBN: 978-0134724713

4th Canadian edition

Authors: Jeff Madura, Hardeep Singh Gill

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