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.

Answer 1

To determine the minimum amount Andrea needs to save from each bi-weekly paycheck, we need to divide the total amount she wants to save ($2,340) by the number of paychecks she will receive in a year.

First, we need to determine the number of bi-weekly paychecks in a year. Since a year has 52 weeks and Andrea is paid bi-weekly, she will receive 52 / 2 = 26 paychecks in a year.

Next, we divide the total amount she wants to save ($2,340) by the number of paychecks in a year (26) to find the minimum amount she needs to save from each paycheck.

$2,340 / 26 = $90

Therefore, Andrea needs to save a minimum of $90 from each of her bi-weekly paychecks in order to build her emergency fund of $2,340 over the next year.