You have $5,000 in your emergency fund. There has been a death in your family and you
Question:
You have $5,000 in your emergency fund. There has been a death in your family and you need to fly home to Alaska; the ticket price is $975. Your current budget allows for no more than $75/month to be moved from your savings to build back your emergency fund. How long will it take you to build your emergency fund back to a $5,000 balance?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
Time req...View the full answer
Answered By
Khurram shahzad
I am an experienced tutor and have more than 7 years’ experience in the field of tutoring. My areas of expertise are Technology, statistics tasks I also tutor in Social Sciences, Humanities, Marketing, Project Management, Geology, Earth Sciences, Life Sciences, Computer Sciences, Physics, Psychology, Law Engineering, Media Studies, IR and many others.
I have been writing blogs, Tech news article, and listicles for American and UK based websites.
4.90+
5+ Reviews
17+ Question Solved
Related Book For
Personal Finance Building Your Future
ISBN: 978-0073530659
1st edition
Authors: Robert B. Walker, Kristy P. Walker
Question Posted:
Students also viewed these Business questions
-
You have the following debts: a. Student loan balance of $17,000 at 5.25% interest, with payments of $225/month b. Visa balance of $800 at 18% interest, with a minimum monthly payment of $32 c. Car...
-
Your first job pays $36,000 per year. How much should you have in your emergency fund?
-
1. Jamie Lee is trying to decide between Form 1040EZ and Form 1040A to file her federal income tax return. Using the Personal Finance Guide in Practice information found on page 86, choose the most...
-
Three years ago, Witt Gas Controls purchased equipment for $80,000 that was expected to have a useful life of 5 years with a $9000 salvage value . Increased demand necessitated an upgrade costing...
-
Visit Metropolitan Life Insurance Company's web page at www.lifeadvice.com. Using this information, prepare a report on the following: (a) Who needs a will? (b) What are the elements of a will...
-
Thin threads are tightly wound on the ends of a uniform solid cylinder of mass m. The free ends of the threads are attached to the ceiling of an elevator car. The car starts going up with an...
-
Grammer Chicken produces canned chicken a la king. The chicken a la king passes through three departments: (1) Mixing, (2) Retort (sterilization), and (3) Packing. In the Mixing Department, chicken...
-
Refer to the data in Exercise 162 for Weller Corporation. Required: Compute the following financial ratios for long-term creditors for this year: Times interest earned ratio. Debt-to-equity ratio.
-
12. If the velocity-time graph has the shape AMB, what would be the shape of the corresponding acceleration-time graph? (A) a (B) (C) A (D) a A M B time(t)
-
What is TOMSs target market? How might this market change in the future?
-
Sherri is automatically investing $100 a month into a mutual fund to gain market returns. She has no plans for this money other than wealth accumulation. List three funds where you could suggest that...
-
If you go out for lunch Monday through Friday between classes and spend between $7 and $11 for each meal, how much do you spend over the course of a 16-week semester?
-
When are goods considered fit for their intended purpose? Explain three limitations to the rule that goods must be fit for their intended purpose.
-
Judy and her fellow group members were highly frustrated by each other, in part because their needs and corresponding orientations toward the groups work were so different. However, instead of...
-
The membership of Best Friends has changed over the years. Some of the people who started the group have moved on to other things while new members have found their place at Best Friends. Membership...
-
A situation that arose between Gena and Geoff on the set of Man of La Mancha illustrates the type of situation that often leads to tertiary tension. Gena had been in several plays and had studied...
-
Your class project group is facing serious schedule challenges. You have one month to complete a group report and present it to your class, but there is literally no way all five of you can meet at...
-
Two African American members of your group refer to each other as nigga when they greet each other at the beginning of group meetings. 4 You and one other member find the use of the term highly...
-
Penny Morris took metoclopramide from early 2006 to July 2008. However, ingesting the drug for more than twelve weeks had already been contraindicated on FDA-approved labels since 2004 and by "black...
-
Reread the discussion leading to the result given in (7). Does the matrix sI - A always have an inverse? Discuss.
-
What is a tax credit? Distinguish between the two types of tax credits.
-
Doug Klock, 56, just retired after 31 years of teaching. He is a husband and father of three children, two whom are still dependent. He received a 141,000 lump-sum retirement bonus and will receive...
-
Why is it important to track investment property, plant, and equipment? How does the Accumulated Depreciation account play into the tracking of the value of Property, Plan, and Equipment? Why is this...
-
Using two-way Set-Associative mapping method, design two-way mapping for cache memory from main memory. Explain why you need each condition and show all intermediate calculation procedures. You must...
-
18) Under the proration approach, the sum of the amounts shown in the subsidiary ledgers will not match the amounts shown in the general ledger because no adjustments from budgeted to actual...
-
Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid in four monthly...
Study smarter with the SolutionInn App