Question

Diego is saving money every week to be able to afford a trip to Spain. The total amount of money he has saved up can be represented by the equation y=60x+225, where y is the total amount of money saved, and x is the number of weeks he's been saving money. What does the number 60 represent in this situation?

A. The starting amount of money Diego had.
B. The number of weeks Diego needs to save.
C. The amount of money Diego saves each week.
D. The total amount Diego wants to save.

Answer 1

The number 60 in the equation represents the amount of money Diego saves each week for his trip to Spain.

Step-by-step explanation:

In the equation y=60x+225, which represents the total amount of money Diego has saved for a trip to Spain, the number 60 signifies the amount of money Diego saves each week. This is identified as the coefficient of the variable x, which stands for the number of weeks he has been saving.

The term 225 represents the starting amount of money he had before he began saving weekly. This savings scenario can be likened to scenarios of saving in the long term, such as retirement planning. For example, when someone like Quentin in an intertemporal choice example saves money for future use.

He must also consider the rate of return on his savings. The overall concept is managing finances over time to ensure future financial stability, a principle also applicable to Diego's savings plan for his trip.