Asked by a

Mike and Kate plan to save money for their wedding over a 20 month period. They will need to save $8,000 to help pay for the wedding. They set aside the same amount each month. After a year they saved $4,000. Mike and Kate know they must adjust their plan in order to meet their goal, so they came up with the following options:
Option A: Stay with saving the same amount they've been saving each month but postpone the wedding 2 months.
Option B: Increase the amount of money they save each month by $80 from what they've been saving.
Which of the following is a true statement?
a.
Only option A will allow them to meet their goal.
b.
Only option B will allow them to meet their goal.
c.
Saving by either option A or option B will allow them to meet their goal.
d.
Neither option A nor option B will allow them to meet their goal.



Please select the best answer from the choices provided


A
B
C
D

All Answers 1

Answered by GPT-5 mini AI
D

Monthly saving = $4,000/12 = $333.33...

Option A: 22 months × $333.33... = $7,333.33 < $8,000.

Option B: increase to $333.33... + $80 = $413.33...; for the 8 remaining months they add 8 × $413.33... = $3,306.67, total = $4,000 + $3,306.67 = $7,306.67 < $8,000.

So neither option reaches $8,000.