Question

Nya's gross weekly pay is $1440. To maintain her current lifestyle, how much should she save up by the time she retires? A.$748,800 B.$829,440 C.$973,440 D.$1,440,000

Answer 1

Nya's gross weekly pay is = $ 1440

Since, it is not given that for how many days a week Nya works and for how long she will work and how old is Nya.

So, lets suppose Nya is 25 years old and will work for 35 more years till age 60 and the salary remains same for the next 35 years.

Lets assume Nya saves half the amount she earns, it will be = $720

So, Nya saves 720 weekly, so yearly she will save =
`720*52=37440` as there are 52 weeks in a year.

So, in 35 years she will save =
`35*37440=1310400`

So, this value is close to option D. Hence, option D can be the answer.

Answer 2

A. 748,800

Explanation:

I will explain in the following steps:

$1,440 x 52 = $74,880

$74,880 x 10 = $748,800

In this problem, I assumed that Nya would be working for about ten (10) more years, and then she would retire. Based off the question, I took $1,440 and multiplied it by 52 in a calculator and got $74,880. Then I multiplied that by ten years (10) and got the final answer of $748,800.

Side note: I just took the test with this answer and got it right.