Question

ShayAnn is a high school junior who is working on saving money for college. At the beginning of her sophomore year, she made the goal of saving $2,000 each school year for a total of $6,000 by the beginning of her freshman year of college. Six months into her junior year of high school, ShayAnn is evaluating the progress she has made toward her goal. So far, she has saved $2,000. To make her original goal of $6,000, how much does ShayAnn need to save each month for the next 18 months (round to two decimal places if needed)? no

Answer 1

To make her original goal of $6,000, ShayAnn needs to save $222.22 each month for the next 18 months.

Step-by-step explanation:

To calculate how much ShayAnn needs to save each month for the next 18 months, we can subtract the amount she has already saved from her original goal. The total amount she needs to save is $6,000 - $2,000 = $4,000. Divide this by the number of months left, which is 18, to get $4,000 / 18 = $222.22.

Answer 2

The amount, she needs to save each month for the remaining 18 months is $222.22

Step-by-step explanation:

The given information are;

The amount ShayAnn intends to save each year = $2,000

The total amount ShayAnn plans on saving = $6,000

The amount ShayAnn had saved six months into her junior year = $2,000

The number of months remaining for her to save towards her goal = 18 months

The amount she needs to save each month for the next 18 months to make her goal of $6,000 is given as follows;

The amount remaining to make her original goal = $6,000 - $2,000 = $4,000

The amount, X, she needs to save each month for the remaining 18 months is therefore;

X = (The amount remaining to make her original goal)/(The number of months remaining for her to save towards her goal)

X = $4,000/(18 months) =
`\$ 222.\overline 2`

∴ The amount, she needs to save each month for the remaining 18 months = $222.22.