Question

Matt and Bree are saving for a new car. At the end of 2013, their total savings was $12,500 . In 2014, total savings increased to $15,550 . How much did Matt and Bree save in 2014

Answer 1

They saved $3000 in 2014

Explanation:

Given

`Savings (2013) = \$12500`

`Total (2014) = \$15500`

Required

Determine the savings in 2014

This is calculated by subtracting the savings in 2013 from the total savings.

i.e.

`Savings(2014) = Total(2014) - Savings(2013)`

This gives:

`Savings(2014) = \$15500 - \$12500`

`Savings(2014) = \$3000`

Hence, they saved $3000 in 2014