select the correct answer.\njames currently has $215 in a savings account. every month, he deposits an…

select the correct answer.\njames currently has $215 in a savings account. every month, he deposits an additional $45 into his account. james had to replace the wooden fence around his house for a total of $4,100, and his zero - interest payment plan requires $168 per month.\nif james uses all of his budgeted savings to help pay off the fence, in addition to the monthly payment, what will be the remaining balance on the fence after 12 months?\n\na. $2,084\nb. $1,869\nc. $1,544\nd. $1,329\ne. the balance will be completely paid off.

select the correct answer.\njames currently has $215 in a savings account. every month, he deposits an additional $45 into his account. james had to replace the wooden fence around his house for a total of $4,100, and his zero - interest payment plan requires $168 per month.\nif james uses all of his budgeted savings to help pay off the fence, in addition to the monthly payment, what will be the remaining balance on the fence after 12 months?\n\na. $2,084\nb. $1,869\nc. $1,544\nd. $1,329\ne. the balance will be completely paid off.

Answer

Explanation:

Step1: Calculate total savings in 12 months

First, find the total amount James saves in 12 months. He starts with $215 and deposits $45 per month. The total savings $S$ is the initial amount plus the amount deposited in 12 months. The amount deposited in 12 months is $45\times12$. So $S = 215+45\times12$. $S=215 + 540=755$.

Step2: Calculate total amount paid in 12 months

The monthly payment for the fence is $168. The total amount paid in 12 months $P$ is $168\times12$. $P = 168\times12=2016$.

Step3: Calculate total amount used to pay the fence

The total amount used to pay the fence $T$ is the sum of the total savings and the total monthly - payments. So $T=755 + 2016$. $T = 2771$.

Step4: Calculate the remaining balance

The cost of the fence is $4100$. The remaining balance $B$ is the cost of the fence minus the total amount used to pay the fence. So $B=4100 - 2771$. $B = 1329$.

Answer:

D. $1,329