You deposit $800 in an account. The account earns $360 simple interest in 3 years. What is the annual interest rate?
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Sally earns per hour = $12
Sally works for in a week = 16 hours.
So, Sally earns in a week =
Sally can save money each week= 20% of 192
A. How much does she earn each week ? Sally earns $192 in a week.
B. How much money will she save each week? Sally will save $38.40 each week.
C. How much money will she save each month (assume there are 4.3 weeks in a month)
Savings of 1 week = $ 38.40
Savings of 4.3 weeks =
Hence, she will save $165.12 in a month.
D. How many months will it take her to save the money?
Total money needed = $1800
Number of months needed to collect this amount =
Hence, it will take 11 months approx to save $1800.