Question

On the day of his 18th birthday harry decided to start saving money regularly

a) starting on that day, he could save 30.00 on the same date every month.
how much would he have saved by the day before his 60th birthday.

Answer 1

We have been given that on the day of his 18th birthday Harry decided to start saving money regularly . Starting on that day, he could save 30.00 on the same date every month. We are asked to find the amount saved by the day before Harry's 60th birthday.

First of all, we will find years from 18 years to 60 years.

`\text{Years}=60-18=42`

We know that 1 year equals 12 months.

`\text{42 years}=12* 42\text{ Months}=504\text{ Months}`

To find total amount saved, we will multiply 504 months by amount saved per month.

`\text{Total amount saved}=\$30* 504`

`\text{Total amount saved}=\$15,120`

Therefore, Harry would have saved
`\$15,120` by the day before his 60th birthday.