our current account balance is $215. You have $322 of expenses each month. Your income is $444 per month. How long will it take

Question

Simora [160]

2 years ago

7

our current account balance is $215. You have $322 of expenses each month. Your income is $444 per month. How long will it take

you to accumulate a balance of $1000 in your account.

Mathematics

2 answers:

denis-greek [22] · Answer 1 · 2022-08-28T00:15:30+03:00

denis-greek [22]2 years ago

8 0

It would be around 6 months to accumulate $1000 in your account

Ipatiy [6.2K] · Answer 2 · 2022-08-28T02:08:02+03:00

It would take you 6.43442622951 (7) months to accumulate a total of $1000.
Work:
We earn $444 and spend $322 which leaves us with ($444-$322=$122) $122 dollars of saving each month. Now we Subtract $215 from $1000 because we already have that in our account. That leaves us with $785 more dollars to accumulate to reach $1000. Next we divide 785 (Amount of more money to accumulate) by 122 (savings left each month) which results in 6.43332622951 we round to 7 We receive $1000 in 7 months.