An individual's net earnings are $80,000 per year, with living expenses for housing, food, and transportation...

 

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An individual's net earnings are $80,000 per year, with living expenses for housing, food, and transportation amounting to $4,200 per month. The individual wants to save $30,000 for a home down payment and plans to travel once a year, with the trip costing $3,000. How long until the individual can fund both goals for the same year if income and expenses stay consistent? An individual's net earnings are $80,000 per year, with living expenses for housing, food, and transportation amounting to $4,200 per month. The individual wants to save $30,000 for a home down payment and plans to travel once a year, with the trip costing $3,000. How long until the individual can fund both goals for the same year if income and expenses stay consistent?

Answer rating: 100% (QA)

Lets break down the savings needed Monthly expenses 4200month 12 monthsyear 50400year Total savings ... View the full answer