Question

Tim earns $280 every week in his paycheck. If he saves 10% of each paycheck for 12 weeks, how much will he have in his savings account?

a. $30
b. $336
c. $3360
d. $5040

Answer 1

Tim will save $28 per week by saving 10% of his weekly paycheck. After 12 weeks, he will have a total of $336 in his savings account.

Step-by-step explanation:

Tim earns $280 every week and wants to save 10% of his paycheck for 12 weeks. To calculate how much he will save each week, we multiply his weekly earnings by the percentage he wants to save:
$280 × 10% = $280 × 0.10 = $28 per week.

Next, to find the total amount saved over 12 weeks, we multiply the weekly savings by the number of weeks:

$28 × 12 = $336.

Therefore, after 12 weeks, Tim will have $336 in his savings account, which corresponds to option b.