9. financial literacy kelly is saving her money to buy a car. she has $250, and she plans to save $75 per…

9. financial literacy kelly is saving her money to buy a car. she has $250, and she plans to save $75 per week from her job as a waitress. a. how much will kelly have saved after 8 weeks? b. if the car costs $2000, how long will it take her to save enough money at this rate?

9. financial literacy kelly is saving her money to buy a car. she has $250, and she plans to save $75 per week from her job as a waitress. a. how much will kelly have saved after 8 weeks? b. if the car costs $2000, how long will it take her to save enough money at this rate?

Answer

Explanation:

Step1: Calculate savings after 8 weeks

Initial amount is $250, and she saves $75 per - week. The total savings $S$ after $n$ weeks is given by the formula $S = 250+75n$. For $n = 8$, we substitute $n$ into the formula: $S=250 + 75\times8$

Step2: Simplify the expression

First, calculate $75\times8=600$. Then, $S=250 + 600=850$.

Step3: Calculate the number of weeks to save $2000$

Set $S = 2000$ in the formula $S = 250+75n$. We get the equation $2000=250 + 75n$.

Step4: Solve the equation for $n$

Subtract 250 from both sides: $2000 - 250=75n$, so $1750 = 75n$. Then, $n=\frac{1750}{75}=\frac{70}{3}\approx23.33$. Since we are talking about weeks, we need to round up to the next - whole week. So $n = 24$ weeks.

Answer:

a. $850 b. 24 weeks