Question

1. mindy has $50 in her savings account right now. she wants to save $250 for a taylor swift concert ticket. she figures she can save $20/week from her part - time job.

a. write an equation to model her savings account balance after x weeks.
b. how long will it take her to be able to afford the ticket?

1. after a really rough winter, kristoff cant afford to fix his sled until he has $7000 saved. every month, his take - home pay is $2500, and he uses the 50/30/20 rule to determine how much hell spend and save.

a. write an equation to model kristoffs savings after x months.
b. how long will it be before he can get his sled fixed if hes already got $900 in the bank?

1. raven with absolutely no savings, but she wants to have an emergency fund of amount at the end of her first year at her new job.

a. how much does she need to save per month in order to meet this savings goal?
b. how much would ravens take - home pay need to be in order for that monthly savings target to represent 20% of her pay?

1. fill - in - the - blanks to write a word problem for your own personal savings goal.

right now i have $1000 already saved. this money is located in a high - yield account type. i would like to have a total of $5000 in order to buy a used car.

1. select one of these two statements to complete:

☑ i can save $333.33 per month, which means it will take me time to reach my goal.
☐ i would like to reach my goal in months months, so ill need to save amount per month.

Explanation:

Step1: Define remaining savings needed

Let remaining savings = total goal - current savings.
$\$5000 - \$1000 = \$4000$

Step2: Calculate time to reach goal

Time = remaining savings ÷ monthly savings.
$\frac{4000}{333.33} \approx 12$

Answer:

12 months