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In the first month, Amelia's savings account balance was $60. She plans to deposit $20 each week until she has at least $475 saved. In order to represent the situation, how many deposits does she need to make to reach her goal?

A) 16 deposits
B) 20 deposits
C) 24 deposits
D) 30 deposits

1 Answer

4 votes

Final answer:

Amelia needs to make 21 weekly deposits of $20 to reach or exceed her savings goal of $475. This assumes a starting balance of $60. Since 21 is not an answer option provided, there might be an error in the question or answer choices.

Step-by-step explanation:

To determine how many deposits Amelia needs to make until her savings account balance reaches at least $475, let us calculate with her starting balance of $60. Since Amelia plans to deposit $20 each week, the total amount she will have after a certain number of weeks can be represented by the equation:

total amount = (initial balance) + (number of deposits) × (amount per deposit).

Let's represent the number of deposits by 'd'. The equation for Amelia's total savings becomes:

$60 + $20 × d ≥ $475.

Solving for 'd' gives us:

$20 × d ≥ $475 - $60,

d ≥ $415/$20,

d ≥ 20.75.

Since Amelia can't make a fraction of a deposit, we round up to the next whole number. Therefore, Amelia needs to make 21 deposits to meet or exceed her goal. However, since 21 is not an option in the multiple-choice answers provided, we need to verify our understanding of the question. If 21 is in fact the correct answer, then there may be a mistake in the question or the provided answer options.

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