Robert and Nicole Gonzales, both age 26, have been married for four years and have no children. Robert is a licensed electrician earning P552,000 per year, and Nicole earns P492,000 annually as a middle-school teacher. a. How much should be the three-month emergency funds of Nicole? b. How much should be the three-month emergency funds of Robert? c. If the couple decided to have a five-month emergency funds, how much should be their combined emergency funds?

Robert and Nicole Gonzales, both age 26, have been married for four years and have no children. Robert is a licensed electrician earning P552,000 per year, and Nicole earns P492,000 annually as a middle-school teacher. a. How much should be the three-month emergency funds of Nicole? b. How much should be the three-month emergency funds of Robert? c. If the couple decided to have a five-month emergency funds, how much should be their combined emergency funds?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter16: Tax Research

Section: Chapter Questions

Problem 50RC

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