Question

Andrea wants to build an emergency fund of
$
2
,
340
$2,340dollar sign, 2, comma, 340 over the next year. She wants to save the minimum amount from each of her bi-weekly paychecks.
If Andrea saves the same amount each paycheck, how much does she need to save in order to meet her goal?

Answer 1

You are paid biweekly.
How many times do you get paid per year?

Answer 2

To find out how much Andrea needs to save in each paycheck, we divide the total amount she wants to save by the number of paychecks she receives in a year.
Andrea receives 26 bi-weekly paychecks in a year (52 weeks / 2 weeks per paycheck = 26 paychecks).
Dividing $2,340 by 26 gives us $90 (2,340 / 26 = $90).
Therefore, Andrea needs to save $90 from each of her bi-weekly paychecks in order to meet her goal. Answer: \boxed{90}.

Answer 3

If you are paid biweekly, you receive 26 paychecks per year.