Problema Solution
A course cost 45 dollars and Dan is 18 years old. If he saves 10% a year and premium is 100.00 / month How long to save the 45 dollars
Answer provided by our tutors
SAVINGS = 10% PER YEAR
pREMIUM = 100 PER MONTH
Savings per month = 100*10/1200 =0.833
savings per annum = 0.833*12 =$10
Amount required = $45
Number of years required to make $45 = $45/10= 4.5 years .