Question

The Polleys want to put in a swimming pool next summer. They need to save $6,000 over 12 months to achieve this goal. They set aside the same amount each month and after 7 months discovered they have saved $3,150. The Polleys know that they must adjust their plan to meet their goal. So, they come up with the following options:

Option A: Save the original amount each month but put the pool in one month later than originally planned.
Option B: Increase savings each month by $125 from the original plan.
Which plan, if any, will work for the Polleys?
a. Option A
b. Option B
c. Both Option A and Option B
d. None of the above

Answer 1

To meet their goal of saving enough money for a swimming pool, the Polleys should choose Option B, which allows them to increase their savings each month by $125 from the original plan.

Step-by-step explanation:

To determine which plan will enable the Polleys to save enough money to put in a swimming pool, we need to compare the savings they currently have and the time remaining until the original completion date. Currently, they have saved $3,150 in 7 months, which means that they are saving $450 per month. Since they need to save a total of $6,000, and they have 5 more months until the original completion date, they would need to save $1,200 per month to reach their goal.

Option A suggests saving the original amount each month but delaying the completion date by one month. This means they would have a total of 6 months to save $2,850, which requires saving $475 per month. Since they are currently saving $450 per month, they would need to increase their savings by $25 per month, which is less than the $450 they are currently saving.

Option B suggests increasing savings each month by $125 from the original plan. In this case, they would be saving $575 per month. If they continue saving at this rate for the remaining 5 months, they will have a total of $2,875, which is more than the $2,850 needed to reach their goal.

Therefore, Option B is the recommended plan for the Polleys to meet their goal of having enough savings to put in a swimming pool.