Question

You have $100 in your savings account. If you save $30 per month, how long will it take to save enough to buy a new computer that costs $500? The price includes sales tax. Remember to round the answer up to the nearest whole number.

Answer 1

Answer:

One year five months approx.

Explanation:

If you maintain a $30 per month saving from the $100 monthly, and let's take an average days in month to be 30days, then ,

For 1 month = $30,

For x month = $500, I.e

X month ($30) = 1 month x $500,

X month = (1 month x $500)/$30

X month = 1 month x 16.6 .

I.e the period of time (equivalent to month) that it will take you to save up to $500 to buy a new system is 16.6 months ,approx. 17 months , if 12 months equals 1 year, then 17 months equals 1 year and 5 months approx.

Answer 2

$500-$100=$400
$400/$30=13.33
Because it is over 13, we need to round up to 14.
It will take 14 months