Final answer:
An absolute value equation representing Jasmine's fundraising goal with a $120 variance is |x - 790| <= 120, specifying that the total raised should be within $120 of $790.
Step-by-step explanation:
Jasmine determined that the amount of money she needs to raise through a fundraiser should equal $790 but she is allowing for a variance of $120 more or less. To represent the maximum and minimum amounts of money Jasmine wants to raise using an absolute value equation, we denote the amount raised as x. The equation will then be |x - 790| ≤ 120. This signifies that the distance between the amount raised and $790 must be less than or equal to $120, covering both the upper and lower limits of Jasmine's target fundraising amount.