18.3k views
4 votes
Mike wants to save $1,750 in the next 12 months. He plans to save $150 each month for the first 11 months. Part A What is the total amount of money Mike will save during the first 11 months if he saves $150 each month? Enter your answer in the box. $ Part B Mike plans to save the same amount in the 12th month as in each of the other months. Will Mike be able to save $1,750 in the 12 months? Enter numbers in the boxes to solve the problem. Since $1,750 – $ = , Mike will need to save $ in the 12th month. Since $ is less than $150, he will be able to reach his goal.

1 Answer

1 vote

Answer:

A. $1,650

Mike will reach his goal if he saved $100 in the 12th month if he has been saving $150 for the first 11 months

Explanation:

Mike wants to save $1,750 in the next 12 months.

He plans to save $150 each month for the first 11 months.

A. Total amount of money Mike will save during the first 11 months if he saves $150 each month is

$150 × 11 months

= $1,650

B. If Mike plans to save the same amount in the 12th month ($150) as in each of the other month

= $150 × 12 months

= $1,800

He will be able to save $1,750 if Mike saved the same amount in the 12th month

In the 12th month, Mike only needs to save $100 if he has saved $150 in the first 11 months in order to reach his goal

User Vedat
by
8.0k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.