Question

Jay has $63,000 in his savings account. He earns $500 a week at his new job. If Jay saves all of his earnings, after how many weeks will he have $100,000 saved? (Let the letter w represent the number of weeks)

Answer 1

Total savings = $63,000

Amount earned per week = $500

Let the number of weeks he saved $500 be w, the total amount saved for w weeks is expressed as 500w

If her total savings after w weeks is $100,000, then this equation will be used to solve for w as shown:

63,000 + 500w = 100,000

500w = 100,000 -63,000

500w = 37,000

w = 37000/500

w = 370/5

w = 74

Hence Jay will have $100,000 after 74 weeks if he saves $500 weekly