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A household has the following statistics related to Balance Sheet and annual Cash Flow: Balance Sheet Items: in Dollars Cash 2,500 CD 12,000 Savings Account

A household has the following statistics related to Balance Sheet and annual Cash Flow:

Balance Sheet Items:

in Dollars

Cash

2,500

12,000

Savings Account Balance

3,500

Credit Card Debt

9,500

Current Year Portion of mortgage

7,800

Cash Flow Items:

Salary

115,000

Dividend Income

1,500

Discretionary Expenses

8,000

Nondiscretionary Expenses

28,975

Debt Repayment

8,700

Retirement Investments

15,500

Capital Expenditure

Compute the Gross Savings percentage.

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