Question

Alec wants to purchase a new phone that costs $159.00. His current average net pay is $167.91 each week. What percent of his weekly net pay does Alec need to save each week, for the next six weeks, to reach his goal? Round to the nearest hundredth. (1 point)

1.58%
9.09%
15.78%

Answer 1

9514 1404 393

Answer:

15.78%

Explanation:

Let x represent the fraction of pay that Alec needs to save each week. Then at the end of 6 weeks, he will have ...

159.00 = 6(x(167.91))

x = 159.00/(6·167.91) ≈ 0.157823 ≈ 15.78%

Alec will need to save 15.78% of his pay.

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Additional comment

We recognize that $159 is almost a whole paycheck of $168, so Alec needs to save approximately 1/6 of his paycheck each week. We know that 1/6 = 16.67%, so the nearest reasonable answer choice is 15.78%.