Question
chas been working at a local sandwich shop. At the end of each week, he
kes home
in wages. If Eric follows the 10 percent savings plan, how much
ney should he put into a savings account each week? How much money
uld he have left to spend on other things? Be sure to show your math.
kes home
ney should he put into a savings account each week? How much money
uld he have left to spend on other things? Be sure to show your math.
Ask by Greene Morgan. in the United States
Dec 13,2024
Upstudy AI Solution
Tutor-Verified Answer
Answer
Chas should save $8 each week and have $72 left to spend.
Solution

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Bonus Knowledge
If Chas earns
each week and follows a 10 percent savings plan, he should save
each week. This means he would put
into his savings account. To find out how much he has left to spend on other things, we subtract his savings from his wages:
. So, Chas will save
and have
left for spending each week.
Calculating savings might seem simple, but it’s a foundational skill for managing finances effectively! Being aware of how small amounts can add up over time can lead to big savings. 📈 So if Chas saves that
weekly, he would have
saved in a year. Now that’s a solid start to a rainy day fund!
Thinking about savings plans, you might want to consider setting savings goals. For instance, if Chas has a target in mind, like buying a gaming console or going on a trip, he could adjust his budget accordingly. Just remember, budgeting and saving should be flexible, so he can tweak his savings plan based on his needs and desires. Happy saving! 💰