BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If Jonathan wants to save 20% of his income, how much money does he need save per month if he make $1, 600 per month.
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$400
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$160
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$320
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$200
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Explanation:
Detailed explanation-1: -20%: Savings Finally, try to allocate 20% of your net income to savings and investments. This includes adding money to an emergency fund in a bank savings account, making IRA contributions to a mutual fund account, and investing in the stock market.
Detailed explanation-2: -The basic rule of thumb is to divide your monthly after-tax income into three spending categories: 50% for needs, 30% for wants and 20% for savings or paying off debt. By regularly keeping your expenses balanced across these main spending areas, you can put your money to work more efficiently.
Detailed explanation-3: -Answer. his total monthly income is 4000rs.
There is 1 question to complete.