Final answer:
The correct equation that Damon created to model his savings plan is y = 500 + 400x. It will take Damon 5 more months of saving to reach his goal of $2,500.
Step-by-step explanation:
The correct equation that Damon created to model his savings plan is:
y = 500 + 400x
To understand his work, let's go through the steps:
Step 1: y = 500 + 400x
Step 2: y - 500 = 500 + 400x - 500
Step 3: y - 500 = 400x
Step 4: Divide both sides by 400 to isolate x: (y - 500)/400 = x
Step 5: Substitute the value of y as 2,500:
(2,500 - 500)/400 = x
Step 6: Simplify: 2,000/400 = x
Step 7: Divide to solve for x: x = 5
Therefore, it will take Damon 5 more months of saving to reach his goal of $2,500.