Armando Rivas earns $96,000 per year. He feels that he can comfortably save 12% of his pre-tax income toward a savings and investment program. His research into the types of investments that meet his risk and return parameters earn an average annual return of 8%. It he puts an equal amount into this program on a monthly basis, how much will he have saved at the end of a 4-year period? O A $61,834 OB. 554,096 C. 552.986 OD. $45.230 O E $64,012 QUESTION 16 When preparing her monthly budget, Maria Kent has projected income of $4,500. Each month she pays $1,000 in rent, $57 for life insurance, and $220 for her auto loan. What percentage of her budget goes for these fixed expenses? O A 28% B. 23% OC. 20% D. 22% O E. 26%