Question

Drake wants to save $750 so that he can take a class on computer analysis for cars. The class is being held on various dates over the next several months. Drake is planning to take the class 6 weeks from now, so he plans to save $125 each week.
Unfortunately, Drake had to take out a little money from his savings in the 3rd week. After 4 weeks, Drake has $470. He knows that he must adjust his plan in order to meet his goal. Drake came up with the following options:
Option A: Stay with saving the original amount each week but take the class a week later than originally planned.
Option B: Increase the amount of money he saves each week by $15 from his original plan.
Which of the following is a true statement?
a.
Only option A will allow him to meet his goal.
b.
Only option B will allow him to meet his goal.
c.
Both options A and B will allow him to meet his goal.
d.
Neither option A nor option B will allow him to meet his goal.

Answer 1

Answer: c. Both options A and B will allow him to meet his goal.

Work:
- Goal = 6 × $125 = $750.
- After 4 weeks he has $470 (short $30 from the planned $500).

Option A: Delay one week so he saves 3 more weeks at $125: 470 + 3×125 = 470 + 375 = $845 ≥ $750.

Option B: Increase weekly saving to $125 + $15 = $140 for the remaining 2 weeks: 470 + 2×140 = 470 + 280 = $750.

Both options reach the goal.