Jessica has been saving to buy her first car. She has already saved $1,225. Create a formula to depict how much money she will save if she saves $300 a month at a constant rate for 1.5 years. How much money will Jessica have after 1.5 years? (Hint: How many months is 1.5 years?)(1 point)

Answer 1

To determine how much money Jessica will have after saving for 1.5 years, we first need to calculate the total number of months in 1.5 years.

1.5 years is equal to: \[ 1.5 \text{ years} \times 12 \text{ months/year} = 18 \text{ months} \]

Next, we can create a formula to calculate the total amount of money she will have after saving for those 18 months. Let \( S \) represent the total savings after 1.5 years. The formula can be expressed as:

\[ S = \text{initial savings} + (\text{monthly savings} \times \text{number of months}) \]

Substituting in the values:

• Initial savings = $1,225
• Monthly savings = $300
• Number of months = 18

The formula becomes: \[ S = 1225 + (300 \times 18) \]

Now, we calculate \( 300 \times 18 \): \[ 300 \times 18 = 5400 \]

Now, we can find the total savings: \[ S = 1225 + 5400 = 6625 \]

So, after 1.5 years, Jessica will have $6,625.