Alicia borrowed $
1 answer:
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Answer:
Correct answer is d: Neither option A nor option B will allow them to meet their goal.
Step-by-step explanation:
Money needed for wedding: 8000 in 20 months
Set aside the same amount each month: 4000 over 12 months
which becomes = $333.33
Months left: 8
Lets evaluate option A first:
Save $333.33 each month and postpone wedding for two months
so by adding two months: 10 months are left till wedding
Money save in 10 months: 10 × 333.33 = $3333.33
So total will become 4000 + 3333.33 = $7333.33 (Not feasible)
Lets evaluate options B:
Increase the amount of saving by $ 80:
Amount saved each months first year: 333.33
After adding 80: 333.33 + 80 = 413.33(amount saved each month in 8 months)
<em>8 months are left to wedding:</em>
so they will save 8 × 413.33 = $3306.64
Total will become: 4000 + 3306.64 = $7306.64(Not feasible)
<em>So correct answer is d: Neither option A nor option B will allow them to meet their goal. </em>