Eva is saving money for a vacation. She plans to save a fixed amount of money each month. Her initial deposit into the account is $500, and she will save $100 per month. How many months will it take her to save for a $1,300 vacation?
A. 0.3 month
B. 18 months
C. 2.4 months
D. 8 months
B. 18 months
Explanation:
Each month, Eva saves $100 in addition to her initial $500 deposit. So, she saves a total of $100 + $500 = $600 per month.
To save $1,300, Eva needs to save $1,300 - $500 = $800 more.
So, it will take her $800 รท $600 = 1.33 months to save $800.
Therefore, it will take her a total of 1.33 months + 18 months = 18 months to save for a $1,300 vacation.
is this right
Apologies for the mistake in the previous explanation. Let's correct it:
Initial deposit = $500
Monthly savings = $100
Total savings needed = $1,300
Amount left to save after the initial deposit = $1,300 - $500 = $800
Each month, Eva saves $100, so she can save $100 per month.
To calculate the number of months needed to save $800:
Number of months = Amount left to save / Monthly savings
Number of months = $800 / $100
Number of months = 8 months
Therefore, it will take Eva 8 months to save for a $1,300 vacation.
So the correct answer is:
D. 8 months
which is right
I apologize for the oversight in the initial explanation. The correct answer is:
D. 8 months
Eva will need 8 months to save the remaining $800 after her initial $500 deposit by saving $100 each month.