Question

Maria saves $3.87∗10^5 every five years If she continues to save at this constant rate, how much money can she save in 27 years? Express your answer in both standard and scientific notation

Answer 1

Maria can save $1.935 × 10^6 in 27 years at a constant rate of $3.87 × 10^5 every five years.

Step-by-step explanation:

To find out how much money Maria can save in 27 years at a constant rate of $3.87 × 10^5 every five years, we need to calculate how many five-year periods are in 27 years. Dividing 27 by 5 gives us 5.4. Since Maria can only save whole amounts every five years, we round down to 5. This means that Maria can save $3.87 × 10^5 for 5 periods.

To calculate the total amount saved, we multiply the amount saved every five years by the number of periods. $3.87 × 10^5 × 5 = $1.935 × 10^6. Therefore, Maria can save $1.935 × 10^6 in 27 years.