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joe has cash in a savings account totaling $7,500, and his monthly expenses are $2,500. what is his emergency fund ratio?

Respuesta :

abiolataiwo2015

Based on the information given his emergency fund ratio is 3.

Using this formula

Emergency fund ratio=Amount saved/Monthly expenses

Where:

Amount saved=$7,500

Monthly expenses=$2,500

Let plug in the formula

Emergency fund ratio=$7,500/$2,500

Emergency fund ratio=3

Inconclusion  his emergency fund ratio is 3.

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