A question about money.

Question

Jane gets $5 a week for allowance. She wants a new phone for $400. If she uses $20 as a base (to start off with), how long will it take her to earn the remaining amount from her allowance?

Answer 1

If the phone is $400 and she starts out with $20, you should first subtract 20 from 400 (400-20=380). This is the actual amount she needs to gain to buy the phone. Since there are 52 weeks in a year, you should times 52 x 5 to see how much she will receive in the year (52 x 5 = 260). From there, she only needs $120 more to get the phone. So far it has taken her a year to collect this money. Now, since she needs $120 more, and she receives $5 a week for allowance, it will take her 24 more weeks to receive the money she needs. Thus, the total amount of weeks it will take her is 76 weeks to have enough money to buy her phone.