Question

John is working part-time in an office. He works 30 hours per week and earns $600 each week. He currently has $2,700 in a savings account. John needs to spend $3,780 on car repairs. He sets aside $492 a week for his usual expenses. John’s savings account pays 4% simple interest. If the principal is
$2,700, what will the balance be after interest is added?

Answer 1

The answer is 8 weeks.