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 he have after a year of savings

Answer 1

To determine how much money Manuel will have after a year of savings, we need to consider both the amount he has saved already and the amount he plans to save over the next year.

1. Current savings: $253.32
2. Amount saved each month: $50
3. Number of months in a year: 12

Now, we can calculate the total amount he will save over the year:

\[ \text{Total savings in a year} = \text{Amount saved each month} \times \text{Number of months} = 50 \times 12 = 600 \]

Next, we will add this total to his current savings:

\[ \text{Total savings after a year} = \text{Current savings} + \text{Total savings in a year} = 253.32 + 600 = 853.32 \]

Therefore, after a year of savings, Manuel will have $853.32.