You saved $100 in 5 months. At this rate, how much will you save in 15 months? What is the effect of your savings, if you save $110 in 5 months?(1 point)

Question

Responses

In 15 months, you will save $300. If you change your savings to $110, your total savings will increase.
In 15 months, you will save $300. If you change your savings to $110, your total savings will increase.

In 15 months, you will save $300. If you change your savings to $110, your total savings will decrease.
In 15 months, you will save $300. If you change your savings to $110, your total savings will decrease.

In 15 months, you will save $500. If you change your savings to $110, your total savings will increase.
In 15 months, you will save $500. If you change your savings to $110, your total savings will increase.

In 15 months, you will save $285. If you change your savings to $110, your total savings will increase.

Answer 1

To determine how much you will save in 15 months based on saving $100 in 5 months, we can calculate as follows:

1. Rate of savings: If you save $100 in 5 months, your monthly savings rate is: $$\frac{100}{5}=20\text{ dollars per month}$$

2. Savings in 15 months: At the rate of $20 per month, in 15 months you will save: $$20\text{ dollars/month}\times 15\text{ months}=300\text{ dollars}$$

Now, if you change your saving amount to $110 in 5 months, we can similarly calculate the monthly savings:

1. New rate of savings: If you save $110 in 5 months, your new monthly savings rate is: $$\frac{110}{5}=22\text{ dollars per month}$$

2. Savings with the new rate in 15 months: At the new rate of $22 per month, in 15 months you will save: $$22\text{ dollars/month}\times 15\text{ months}=330\text{ dollars}$$

Conclusion:

• In 15 months, you will save $300 with the original savings plan.
• If you change your savings to $110 in 5 months, your total savings will increase to $330.

The correct response would be: In 15 months, you will save $300. If you change your savings to $110, your total savings will increase.