Question

Michael recieves a weekly pocket money of $28. If he decides to save 20% of it, find:

a) savings in a year
b) spending in a year
Assume that there are 52 weeks a year

Answer 1

savings in a year- $292

spendings in a year- $1168

Explanation:

Michael's weekly pocket money=$28

Michael's yearly money=$28 x 365/7 = $1460

He decided to save 20% of it

Saving's in a year = 1460 x 20% = 1460 x 20/100

=$265

Spending in a year = $1460 - 2$92

=1168