Question

You need to buy a new computer that costs $1,200. You are able to save 10% of the cost each month in your checking account. How many months will you need to save to afford the computer?
A)12 months
B)8 months
C)6 months
D)10 months

Answer 1

B) 8 months

10% of $1,200 is $120. If you save $120 each month, it will take you 8 months to save $1,200.