Manuel has saved $253.32 so far. He plans to put $50 into his savings each month for the next year. How much money will Manuel have after a year of savings?(1 point)

Answer 1

To find out how much money Manuel will have after a year of savings, we can start with the amount he currently has, which is $253.32, and then add the total amount he plans to save over the next year.

Manuel saves $50 each month for 12 months, so he will save: $$50\text{ dollars/month}\times 12\text{ months}=600\text{ dollars}$$

Now we add this amount to his current savings: $$253.32\text{ dollars}+600\text{ dollars}=853.32\text{ dollars}$$

After a year of savings, Manuel will have $853.32.