Question

Drake wants to save $750 so that he can take a class on computer analysis for cars. The class is being held on various dates over the next several months. Drake is planning to take the class 6 weeks from now, so he plans to save $125 each week. Unfortunately, Drake had to take out a little money from his savings in the 3rd week. After 4 weeks, Drake has $470. He knows that he must adjust his plan in order to meet his goal. Drake came up with the following options: Option A: Stay with saving the original amount each week but take the class a week later than originally planned. Option B: Increase the amount of money he saves each week by $15 from his original plan.Which of the following is a true statement?
a. Only option A will allow him to meet his goal.b. Only option B will allow him to meet his goal.c. Both options A and B will allow him to meet his goal.d. Neither option A nor option B will allow him to meet his goal.

Answer 1

Answer:

c. Both options A and B will allow him to meet his goal

Step-by-step explanation:

Total Amount Drake wants to save = $ 750

Amount he will save each week = $ 125

Amount gathered after 4 weeks = $ 470

If he followed the inital plan, the total amount after 4 weeks would have been = 4 x 125 = $ 500

So, after 4 weeks he is $30 short of his target.

Plan A:

Stay with saving the original amount each week but take the class a week later than originally planned

This way Drake would have 3 more weeks to save money each with a saving of $125. So total money accumulated would be:

$ 470 + ( 3 x $125 ) = $ 845

Which is above $ 750, so he would easily meet his goal through this plan

Plan B:

Increase the amount of money he saves each week by $15 from his original plan

He will have 2 weeks remaining. The saving in each week will be:

125 + 15 = $140

So the total saving after 6 weeks will be:

470 + 2 x 140 = $ 750

which is the exact amount he needs for the class. So he will meet his goal using this plan as well

So, option C gives us the correct answer. Both options A and B will allow him to meet his goal