THE SCENARIO: Sookie's take-home pay each month is $3500. Her essential expenses each month are $2225. She's not currently contributing to any retirement accounts, but she does have a savings account at her bank. For the past four
months, she's been keeping track of her spending and saving, and here are the
results:

May—spent $3200, put $300 into saving
June—spent $3450, put $50 into saving
July—spent $3475, put $25 into saving
August—spent $3250, put $250 into saving



Her 12 month goal is to save up 75% of her $12,000 emergency fund and save
enough for a big vacation with her friends (which will cost approximately $4500). Her
36 month goal is to finish getting her emergency fund to 100% and to start investing
for retirement and have at least $25,000 invested.

YOUR TASK: Write a detailed savings plan for Sookie to meet her goals. Responses
MUST include:
1. How much Sookie already has saved, and how much she can save per month total
(take home pay minus essential expenses).
2. How much more she needs to save total at both the 12 month mark and the 36
month mark.
3. A detailed savings plan for both the 12 month and 36 month goals. *HINT*: She
can save for multiple goals simultaneously.

Respuesta :

Answer: 46894 hope this helps :/

Step-by-step explanation: Bro why is this so complex mate

The conclusions of the cash flow are as follows;

1.  Sookie already has saved $2,925. and She can save per month total is $1,275.

2.  She needs to save the total at both the 12-months is $15,300 and for 36 months is $ 45,900.

3.  She can save for multiple goals simultaneously is $81.25.

What is cash flow?

Inflow minus outflow is known as cash flow.

Sookie's take-home pays each month is $3500.

Her essential expenses each month are $2225.

She's not currently contributing to any retirement accounts, but she does have a savings account at her bank.

For the past four months, she's been keeping track of her spending and saving, and here are the results:

May—spent $3200, put $300 into saving

June—spent $3450, put $50 into saving

July—spent $3475, put $25 into saving

August—spent $3250, put $250 into saving

In four months she has earned $14,000. Her expenses for these four months will be $13,375. So, in these four months, her saving amount is $625.

So, in 12 months, her saving will be

8 × 1275 + 625 = 10,825.

For the next 24 months, her savings will be

24 × 1275 + 10,825 = $ 41,425

Her expected savings is $ 41,425 after 3 years.

Her 12 monthly goal is to save up 75% of her $12,000 emergency fund and save enough for a big vacation with her friends (which will cost approximately $4500).

Emergency fund = 0.75 × 12,000 = $9,000

Vacation fund = $ 4,500

Her 36 monthly goal is to finish getting her emergency fund to 100% and to start investing for retirement and have at least $25,000 invested.

Investd fund = $ 25,000

The total fund will be

Total fund = 9,000 + 4,500 + 25,000 = $ 38,500

Her real savings will be

41,425 - 38,500 = $2,925

Her savings is $2,925.

1. How much Sookie already has saved, and how much she can save per month total.

Sookie already has saved $2,925.

She can save per month total is $1,275.

2. How much more does she need to save total at both the 12-months mark and the 36 months mark.

She needs to save total at both the 12-months is $15,300 and for 36 months is $ 45,900.

3. A detailed savings plan for both the 12 month and 36 months goals. She can save for multiple goals simultaneously.

She can save for multiple goals simultaneously is $81.25.

More about the cash flow link is given below.

https://brainly.com/question/26389863

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