assuming the interest is posted at the end of the year, she will have 90*12 * 1.03
No idea about leftover money. How much does the computer cost?
Elizabeth wants to buy a new laptop computer, but she just started her baby sitting job and she hasn't earned any money yet. She figures once she starts earning income she save $90 a month in a saving account that earns three percent interest anually. She learned that the annual inflation rate is currently about three percent. She decides to save her money and buy the laptop next year when she can afford to pay cash for it.
Assuming the price of the laptop computer increases at the rate of inflation, how much will the laptop computer cost a year from now ?
How much will elizabeth put into her account in the year?
Will elizabeth be able to buy the laptop computer?
Will elizabeth have any money left over?
1 answer