Question

Mike and Kate plan to save money for their wedding over a 20 month period. They will need to save $8,000 to help pay for the wedding. They set aside the same amount each month. After a year they saved $4,000. Mike and Kate know they must adjust their plan in order to meet their goal, so they came up with the following options: Option A: Stay with saving the same amount they've been saving each month but postpone the wedding 2 months. Option B: Increase the amount of money they save each month by $80 from what they've been saving. Which of the following is a true statement?

a. Only option A will allow them to meet their goal.
b. Only option B will allow them to meet their goal.
c. Both options A and B will allow them to meet their goal.
d. Neither option A nor option B will allow them to meet their goal.

Answer 1

Pick B because they saved around $333 a month for the first year and if you add the $80 they will end up saving $4956 the second year so that would be $8,956