Question

Christabel saved $1500 in a year. How long does it take her to save $50,400?

a) 2 years
b) 8 years
c) 16 years
d) 33.6 years

Answer 1

Christabel needs 33.6 years to save $50,400, assuming her annual savings of $1,500 continues at the same rate without considering interest.

Step-by-step explanation:

The question relates to how long it will take Christabel to save a specific amount of money, given her current savings rate.

To solve this, we'll divide the goal amount by the annual savings rate.

Christabel saved $1,500 in one year. To find out how long it would take her to save $50,400, we divide the total amount she wants to save by the amount she saves each year:

$50,400 ÷ $1,500 = 33.6 years

Therefore, Christabel will need 33.6 years to save $50,400, assuming she continues to save $1,500 each year without considering any possible interest that could accrue over time.