Which economic system comprises the collective ownership of property? mixed economy capitalism state capitalism socialism
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Answer:
<h3>He needs 5 more months of savings for him to reach his goal. </h3>Explanation:
Given the equation that models Damon's saving plan as y = 500 + 400x where x represents the number of months since last week and y represents the total amount he's saved for the vacation. Since he estimates that he'll need about $2,500 for the trip, therefore y = $2,500.
In order to determine how many more months of saving (x) it will take to reach his goal, the following steps must be taken by Damon (Damon true statements)
Step 1:
y = 500 + 400x
Step 2: Subtract 500 from both sides
y - 500 = 500 + 400x - 500
y-500 = 400x
Step 3: Substitute y = $2500 into the resulting equation and solve for x
400x = 2500-500
Step 4: Take the difference of the value at the right hand side of the equation
400x = 2000
Step 5: Divide both sides by the coefficient of x (i.e 400)
Step 6: Get the value of x
x = 5