Joe earns $160 per week at a local market. He makes a payment of $12 per week for a new bike. He spends $75 each week on food an entertainment. Joe deposits the rest of his money in a savings account. Joe estimates that he deposits about 25% of the $160 into his savings account each week.

1. Is Joe correct?

2. How much of his weekly earnings would Joe need to deposit in order to save 40%?

Question

Mathematics

Larry Medina

17 November, 13:55

Joe earns $160 per week at a local market. He makes a payment of $12 per week for a new bike. He spends $75 each week on food an entertainment. Joe deposits the rest of his money in a savings account. Joe estimates that he deposits about 25% of the $160 into his savings account each week.

1. Is Joe correct?

2. How much of his weekly earnings would Joe need to deposit in order to save 40%?

+2

Answers (1)

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Erickson · Answer 1

Part ~ 1

Earns = $160

Spends = $12 on bike and $75 on food and entertainment

12 + 75 = 87

160 - 87 = 73

Deposits $73 in his saving account

Joe is wrong because 73 is 45.625% of 160, not 25%