Based on this financial data, calculate the Savings Ratio. Liabilities $7470 Net Worth Liquid Assets Monthly Credit Payments Monthly Savings $ 4610 $ 720 $ 640 Current Liabilities Take-home Pay Gross Income $ 77300 $ 2000 $ 3150 $ 4890

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 2MC
icon
Related questions
Question
Based on this financial data, calculate the Savings Ratio.
$7470
Net Worth
Liquid Assets
$ 4610
Monthly Credit Payments
$720
Monthly Savings
$ 640
Gross Income
Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89,
1.02, 0.09, etc.
Do not include a comma or"$" sign in your response.
Liabilities
Current Liabilities
Take-home Pay
$ 77300
$2000
$ 3150
$ 4890
Transcribed Image Text:Based on this financial data, calculate the Savings Ratio. $7470 Net Worth Liquid Assets $ 4610 Monthly Credit Payments $720 Monthly Savings $ 640 Gross Income Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc. Do not include a comma or"$" sign in your response. Liabilities Current Liabilities Take-home Pay $ 77300 $2000 $ 3150 $ 4890
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning