The Grangers manage their money by using a monthly budget.Mr.Granger's semi-monthly salary is $2,800,and Mrs.Granger's biweekly salary is $4,150.Mr.Granger's net income of approximately 64% of his salary is deposited in their savings account each paycheck,whereas Mrs.Granger sees 66% of her salary deposited into their savings account.How much money should the Grangers transfer from their savings to checking to cover their monthly expenses if their goal is to leave 12% of budgeted income in savings and an additional 36% of budgeted income to cover non-monthly expenses (i.e. ,water,insurance,property taxes,vacations,Christmas,charitable giving,home maintenance,etc. )?

Question

Quizplus · Accepted Answer

The Answer of The Grangers manage their money by using a monthly budget.Mr.Granger's semi-monthly salary is $2,800,and Mrs.Granger's biweekly salary is $4,150.Mr.Granger's net income of approximately 64% of his salary is deposited in their savings account each paycheck,whereas Mrs.Granger sees 66% of her salary deposited into their savings account.How much money should the Grangers transfer from their savings to checking to cover their monthly expenses if their goal is to leave 12% of budgeted income in savings and an additional 36% of budgeted income to cover non-monthly expenses (i.e. ,water,insurance,property taxes,vacations,Christmas,charitable giving,home maintenance,etc. )?

The Grangers Manage Their Money by Using a Monthly Budget