Rashid's Monthly Expenses Are $4000 and He Expects That His

question 2

Multiple Choice

Rashid's monthly expenses are $4000 and he expects that his cash flow will always be sufficient to cover his expenses. How much should he ideally have in his emergency fund?

• A)$12 000 using a combination of liquid investments and access to credit.
• B)$24 000 because it is always best to be safe.
• C)None, but he needs a $24 000 limit on his credit card.
• D)$12,000 invested in two to three year GICs to get a higher return.

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