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Topic: |
Business
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Number of pages / Number of words: |
3 / 682 |
Essay's paper body
The total of the two will be $1184.96 per year.
Remember that after the monthly expenses they still had $1800 left. They will be taking this money and adding it to the MMA and NOW accounts. On the chance that I forget something in their monthly expenses I will use $1500, leaving the other $300 for unexpected expenses during the month and ensuring they leave their minimum balance at the Credit Union...
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They can then add to either of the accounts $1000 which will increase the amount they accumulate. Phil could take the additional $500 and invest it in the stock market, he might get lucky if he is very careful and if he doesn't he is not taking such a huge risk with their liquid assets.
Without the additional $1000 to add to their accounts it will take them less than 6 years to accumulate an amount equal to three months worth of wages in the event they have to have it for an emergency...
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