138k views
0 votes
Connor has $20,000 in his savings account. Every month he spends $1,500. He does not add money to the account?

User Nioq
by
8.3k points

1 Answer

5 votes

Final answer:

Connor will be able to sustain this spending rate for approximately 13 months before depleting his savings account.

Step-by-step explanation:

Connor has $20,000 in his savings account and spends $1,500 every month. Since he does not add money to the account, we can calculate how long he will be able to maintain this spending rate. The number of months Connor can sustain this spending can be found by dividing $20,000 by $1,500:

Number of months = $20,000 / $1,500 = 13.33 months

Therefore, Connor will be able to sustain this spending rate for approximately 13 months before depleting his savings account.

User Khinsen
by
7.6k points