Question

Mike and Kate plan to save money for their wedding over a 20 month period. They will need to save $8,000 to help pay for the wedding. They set aside the same amount each month. After a year they saved $4,000. Mike and Kate know they must adjust their plan in order to meet their goal, so they came up with the following options:
Option A: Stay with saving the same amount they've been saving each month but postpone the wedding 2 months.
Option B: Increase the amount of money they save each month by $80 from what they've been saving.
Which of the following is a true statement?

Answer 1

Answer:

The Answer is Actually D. I just took the Test and got it Correct! have a Great Day.!!

Step-by-step explanation:

Answer 2

The true statement is that both plans will not amount to $8000 in the end

The target savings is given as:

$Target = \ 8000$

The amount saved after a year is given as:

$Savings = \ 4000$

Start by calculating the amount saved each month (by dividing the saved amount by 12)

$Monthly = \frac{\ 4000}{12}$

For option (A): To increase the wedding by 2 months.

This means that the duration of savings would be 22 months.

So, the estimated savings would be

$Estimate= \frac{\ 4000}{12} \times 22$

$Estimate= \ 7333$

For option (B): Increase savings by $80.

This means that they have 8 months to complete their savings

The estimated savings would be

$Estimate= \ 4000 + (\ 80 + \frac{\ 4000}{12}) \times 8$

$Estimate= \ 7307$

For both plans, the estimated savings are short of the target savings of $8000.

Hence, none of the plans would amount to $8000 in the end

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