Question

harry explores another option. Starting on his 18th birthday, he could save £50 on the same date every year. If he saved this way, how old would he be by the time he had saved £1000?

Answer 1

He would have had £1000 when he is 37 years old

Explanation:

Harry starts saving £50 annually from his 18th birthday

We would save £1000 after

(1000/50) years = 20 years

Since is 18th birthday is the first of the 20 years and Therefore will will save £950 for the next 19 years, which is

18 + 19 = 37 years old