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26 April, 07:46

Miles is saving to buy a new car. He currently has $600 in his savings account. He plans on depositing $200 a month until he has saved the $2000 he needs to buy a car. Rate change?

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  1. 26 April, 11:35
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    7 months

    Step-by-step explanation:

    He plans on depositing $200 every month into the savings account that already has $600 in it.

    We can represent the amount of money he will have after a certain number of months (x) as:

    A = 600 + 200x

    He needs to save $2000. Therefore, to find the months he needs to save, we need to find x when A is $2000:

    2000 = 600 + 200x

    200x = 2000 - 600

    200x = 1400

    x = 1400/200 = 7 months

    He needs to save for 7 months.
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