James earns $7000 per month. His monthly expenses include: $900 in rent, $900 in recreational...
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Accounting
James earns $7000 per month. His monthly expenses include: $900 in rent, $900 in recreational expenses, $400 in food, $350 in auto payments, $200 in gas and maintenance, $700 in student loan repayments, $250 in credit card payments, and $1800 in miscellaneous expenses. Assuming James saves his monthly surplus, what is his approximate savings rate?
21.43%.
10.72%.
78.57%.
18.85%.
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