While saving for a rainy day, you decide to put aside 10 percent of your take-home pay into a savings account (that pays NO interest) at a local credit union (bank). You are currently paying 22 percent in taxes. If you make $3,785.90 each month before taxes, how long (in months) will it take you to get your goal of $2,500 in your account.

Money set aside each month:

Time to save:

Question

Ellison

1 December, 23:26

+4

Answers (1)

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Savion Mccullough · Answer 1

3,785.90*0.22

=832.898

3,785.90-832.898

=2,953.002

2,953.002*0.10

=295.3002 Money set aside each month

2,500:295.3002

=8 months