Miles is saving to buy a new car. He currently has $600 in his savings account. He plans on depositing $200 a month until he has
saved the $2000 he needs to buy a car. Rate change?
1 answer:
Answer:
7 months
Step-by-step explanation:
He plans on depositing $200 every month into the savings account that already has $600 in it.
We can represent the amount of money he will have after a certain number of months (x) as:
A = 600 + 200x
He needs to save $2000. Therefore, to find the months he needs to save, we need to find x when A is $2000:
2000 = 600 + 200x
200x = 2000 - 600
200x = 1400
x = 1400/200 = 7 months
He needs to save for 7 months.
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I would start by visually thinking out this problem. Or if you have time sketch it out. And don't forget the popcorn :)
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The sales person is making 3% so, we would simply multiply $1400 by .03
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They made $42 dollars on a $1400 sale, pretty lousy if you ask me.
