drag each tile to the correct location. identify the type of savings fund that is best suited for each…

drag each tile to the correct location. identify the type of savings fund that is best suited for each situation. paying for a hospitalization not covered by health insurance saving for an upcoming vacation paying utilities and mortgage payments after a job loss saving for a down payment paying for a major planned expense paying for a major unplanned expense sinking fund emergency fund

drag each tile to the correct location. identify the type of savings fund that is best suited for each situation. paying for a hospitalization not covered by health insurance saving for an upcoming vacation paying utilities and mortgage payments after a job loss saving for a down payment paying for a major planned expense paying for a major unplanned expense sinking fund emergency fund

Answer

Brief Explanations:

A sinking fund is for planned future expenses. An emergency fund is for unexpected financial hardships. Saving for an upcoming vacation, a down - payment, and paying for a major planned expense are planned, so they are for a sinking fund. Paying for a hospitalization not covered by health insurance, paying utilities and mortgage after job loss, and paying for a major unplanned expense are unforeseen, so they are for an emergency fund.

Answer:

Sinking Fund: saving for an upcoming vacation, saving for a down payment, paying for a major planned expense Emergency Fund: paying for a hospitalization not covered by health insurance, paying utilities and mortgage payments after a job loss, paying for a major unplanned expense