Question

your realized (net) income is $2,943.20/month. how much could you save per month if you take 25% of your discretionary monies and put it in a savings account?

Answer 1

Amount that could be saved per month if you take 25% of your discretionary monies and put it in a savings account is : $ 735.8

What do you understand by discretionary monies?

Discretionary income is the money that is left over after paying taxes and necessary cost-of-living expenses like rent or mortgage, utilities and groceries. It's said to be “discretionary income” as it can be used for discretionary expenses.

Given;

Per month income = $2,943.20

Now, Saving percentage amount per month = 25% of discretionary money

So , saving amount per month = 25 % of $2,943.20

= 0.25 × $2,943.20

= $735.8

To know more about discretionary monies, refer

https://brainly.com/question/1387371

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