The amount that would be saved is $330, the amount earns weekly is $170, and the worth of a $250 deposit after 2 years is $270.40.
<h3>How do we calculate the amount saved, weekly wage, and future value?</h3>
The amount that would be saved if he had bought the freezer at the market price can be calculated as follows:
Total amount paid = Deposit + (Monthly payment * 12) = $1,350 + ($265 * 12) = $4,530
Amount that would have been saved = Total amount paid - Market price = $4,530 - $4,200 = $330
The amount the man earns each week can be calculated as follows:
Amount earns weekly = Take home pay / (100% - Tax rate) = $122.40 / (100% - 28%) = $170
The worth of a $250 deposit after 2 years of compound interest can be calculated using the future value (FV) formula as follows:
FV = PV * (1 + r)^n ..................... (1)
Where:
FV = future value or the worth of a $250 deposit after 2 years = ?
PV = present value or deposit = $250
r = interest rate per annum = 4% = 0.04
n = number of years = 2
Substituting all the relevant values into equation (1), we have:
FV = $250 * (1 + 0.04)^2 = $270.40
Learn more about weekly wage here: brainly.com/question/10863476.
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