Let's break down your savings scenario systematically.
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Current Savings: You saved $100 in 5 months.
- Monthly savings rate: $100 / 5 months = $20 per month.
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Savings in 15 months at the current rate:
- Savings in 15 months = 15 months × $20/month = $300.
Now, let's analyze the scenarios if you change your savings to $110 in 5 months:
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New Savings: If you save $110 in 5 months:
- Monthly savings rate: $110 / 5 months = $22 per month.
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Savings in 15 months at the new rate:
- Savings in 15 months = 15 months × $22/month = $330.
Now, let's interpret the options you provided with this information:
A. In 15 months you will save $300 if you change your savings to $110; your total savings will increase.
- Incorrect: If you switch to $110, you will save $330, which is an increase.
B. In 15 months you will save $500 if you change your savings to $110; your total savings will increase.
- Incorrect: You save $330, not $500.
C. In 15 months you will save $285 if you change your savings to $110; your total savings will increase.
- Incorrect: You save $330, not $285.
D. In 15 months you will save $300 if you change your savings to $110; your total savings will decrease.
- Incorrect: You will not save $300 with the $110 change. You will save $330, which is an increase.
Conclusion: The only correct statement (if it were one of the choices) would be that in 15 months, you would save $330 if you changed your savings to $110 in 5 months, resulting in an increase in total savings compared to saving at the original rate. None of the provided options accurately reflect the conclusions based on your savings rates.
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