1. If you save $15 a week for the next two years instead of buying music, how much money would you accumulate?
1,560*
2. Assume you want to accumulate $4,000 to begin investing at the end of three years. How much money would you need to save every week to accomplish that goal?
25.64*
Agree
To calculate the amount of money you would accumulate by saving $15 a week for two years, you need to multiply the weekly savings amount by the number of weeks in two years.
1. Multiply $15 by 52 (number of weeks in a year) to find the amount saved in one year:
$15 * 52 = $780
2. Multiply the amount saved in one year by 2 (number of years) to find the total amount accumulated after two years:
$780 * 2 = $1,560
So, if you save $15 a week for the next two years instead of buying music, you would accumulate $1,560.
To calculate how much money you need to save every week to accumulate $4,000 in three years, you need to divide the target amount by the total number of weeks.
1. Divide $4,000 by 156 (52 weeks in a year multiplied by three years) to find the weekly savings amount:
$4,000 / 156 = $25.64 (rounded to two decimal places)
So, you would need to save approximately $25.64 every week for three years to accumulate $4,000 for investing at the end of three years.