Savings Plan and Budgeting Concepts

This video tutorial explains how to use linear equations to model savings over time. It begins with an introduction to the concept, followed by formulating an equation to represent monthly savings. The tutorial then demonstrates how to calculate the total savings after nine months and solve for the number of months needed to save for a specific goal, such as purchasing a computer. The lesson concludes with a summary of the key points discussed.

What is the initial amount of money saved at the start of the year?

• $100

• $162

• $200

• $250

How much money is saved each month according to the plan?

• $30

• $45

• $50

• $40

Which equation correctly models the savings situation?

• S = 45 + 162M

• S = 45M + 162

• S = 162 + 45M

• S = 162M + 45

What does the slope of the line represent in the savings equation?

• The monthly savings

• The initial savings

• The total savings

• The number of months

How much money will be saved after nine months?

• $625

• $405

• $567

• $600

What is the total savings after 10 months?

• $607

• $612

• $615

• $567

What is the cost of the new computer?

• $650

• $500

• $600

• $625

How many months are required to save enough for the computer?

• 10 months

• 9 months

• 12 months

• 11 months

What is the equation used to determine the number of months needed to save for the computer?

• 625 = 162 + 45M

• 625 = 45M + 162

• 625 = 45 + 162M

• 625 = 162M + 45

Why do we round up the number of months to 11?

• To ensure enough savings

• To match the computer's price

• To account for interest

• To avoid a deficit