Question

A student saves money to buy a laptop. The student already has 307.50 saved and puts aside $100 each month to help pay for the laptop. After 5 months, the total amount saved is 75% of the total cost of the laptop. How much more does the student need to save to buy the laptop rounded to the nearest cent.

Answer 1

The amount the student needs to save is approximately $269.167

Explanation:

The amount the student already has saved for his laptop = $307.50

The amount the student puts aside each month to pay for the laptop = $100

The total amount saved after 5 months = 75% of the total cost of the laptop

Therefore, we have;

The total amount the student has after 5 months = $307.5 + 5 × $100 = $807.5

The total amount saved after 5 months = 75% of the total cost of the laptop

Therefore;

$807.5 = 75% of the total cost of the laptop

The total cost of the laptop = $807.5/75% = $807.5/75 × 100 =
`\$ \ 1076(2)/(3)`

The total cost of the laptop ≈ $1076.67

Therefore;

The amount the student needs to save = $1076.67 - $807.5 =
`\$ \ 269(1)/(6)`

The amount the student needs to save ≈ $269.167.