At least 24 times he need to deposit $ 50 to paying off his total purchase.
<h3>
What is Savings?</h3>
Saving is the portion of income not spent on current expenditures. In other words, it is the money set aside for future use and not spent immediately.
Here, cost of mattress = $ 1399
cost of EMI = $ 78
Duration of EMI = 18 months
Total payable amount = 18 X 78
= $ 1404
Current account balance = $ 250
Per month savings = $ 50
Duration at which total balance is equivalent to payable amount
= (1404 - 250)/50
= 1154/50
= 23.08
Thus, At least 24 times he need to deposit $ 50 to paying off his total purchase.
Learn more about Savings from:
brainly.com/question/7965246
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