Question

You open a savings account with a beginning balance of $600. You plan on depositing $50 every month until you have enough money to purchase a car which costs $2500. However, your parents remind you that it's probably not a good idea to empty your entire savings account so they recommend leaving a balance of $500 in your account. How many months will it take you to have enough money saved to purchase the car AND still have a $500 balance? Set up an equation and solve. ​

Answer 1

48 months

Explanation:

first take how much you need and add how much you want to leave, so 2500+500=3000. Then delete 600 from 3000, which will give you $2400. divide $2400 by 50 which gives you 48. it will take 48 months to get enough money to purchase a car at $2500 and leave $500 in the account.