Please help

Question

If I need to collect 700$ in 14 weeks, and I get paid 250$ per two weeks, and I spend at least 45$ or a little more each pay, will I still have enough saved up?

Answer 1

It appears you are saying you need to save at least $700 from your pay over a 14 week period.

 

You get $250 every two weeks and spend about $45 every two weeks ...

There are 7 pay periods in 14 weeks since you get paid every two weeks 14/2 =7

 

Thus we can save (7)(250-45) every pay period = (7)(205) = $1435 over the 14 weeks

which is more than you need.  You can spend more than the $45 occasionally if needed.

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Let's see how much you can actually spend and still save $700

Let x = amount of money spent every 2 weeks

 

7(250-x)=700

1750-7x=700

7x = 1750-700

7x = 1050

x = $150

 

You can spend up to $150 every two weeks and still save $700 over the 14 week period.

 

 

 

Answer 2

If you need to collect $700 in 14 weeks, lets find out how much you get paid in 14 weeks to get the same timeframe.

 

You know that you get paid in $250 per two weeks.

 

 

We can set a proportion for the pay.

 

Ratio of pay = ratio of weeks

 

250 / x = 2 / 14

 

250 / x = 1 / 7

 

 

Cross-multiply.

 

x = 1750

 

You get paid $1750 per 14 weeks.

 

If you add the pay for your collection, you will have

 

1750 - 700 = 1050

 

 

You will have $1050 left. 

 

Subtract the $45 from each pay period from this leftover.  If the result is less than $700, then you will not have enough saved up.

 

 

 

 

Answer 3

Let's break it down to per week!

700$/14=50$ collect

250$/2=125$ paid

Total savings=175$

If I spend at least 45$ or more, then I still have enough saved up.

The answer is YES.

Answer 4

In 14 weeks, in order to save 700$, you must save 700/14 = 50$ per week, or 100$ every two weeks.  This is true regardless of how much you get paid or how much you spend.

Since you get paid 250$ and spend a little more than 90$ (congrats! by the way), you are saving a little less than 160$ each pay period.  That is well more than your goal.

Practical note:  usually, you get paid a week after your pay period ends.