Question

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.

Answer 1

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