SOLUTION: My daughter got this question wrong and asked me to see why. When I tried to work the problem out myself, my answer of $719.90 was not listed as correct either. I tried 2/3 + 1/8 =

Question 989097: My daughter got this question wrong and asked me to see why. When I tried to work the problem out myself, my answer of $719.90 was not listed as correct either. I tried 2/3 + 1/8 = 19/24, convert to .792 then .792 * 3461.04 = 2741.14 and subtract from $3461.04. The correct answer was listed as $721.05. I guess my question is what is the correct way to write out this problem and solve (rounded to the nearest cent per directions).
Patti's monthly pay is $3461.04. Each month she uses 2/3 of her pay for her household expenses and 1/8 for entertainment. She deposits the rest into her savings account. How much does Patti deposit into her savings account each month?
Any help would be greatly appreciated.
Sol'n
3461.04*(1-(2/3)-(1/8))
$721.05
Found 2 solutions by zhagi17, MathTherapy:
Answer by zhagi17(16) (Show Source): You can put this solution on YOUR website!
$721.05
Answer by MathTherapy(10556) (Show Source): You can put this solution on YOUR website!

My daughter got this question wrong and asked me to see why. When I tried to work the problem out myself, my answer of $719.90 was not listed as correct either. I tried 2/3 + 1/8 = 19/24, convert to .792 then .792 * 3461.04 = 2741.14 and subtract from $3461.04. The correct answer was listed as $721.05. I guess my question is what is the correct way to write out this problem and solve (rounded to the nearest cent per directions).
Patti's monthly pay is $3461.04. Each month she uses 2/3 of her pay for her household expenses and 1/8 for entertainment. She deposits the rest into her savings account. How much does Patti deposit into her savings account each month?
Any help would be greatly appreciated.
Sol'n
3461.04*(1-(2/3)-(1/8))
$721.05

Since she uses for household expenses and for entertainment, she uses a total of , or , or .
Thus she has , or left, so she deposits of $3,461.04, or , or in her savings account.
It's best sometimes to work these problems step-by-step, so there's less of a chance to make an error.
Your mistake was converting the fraction of what she spent () to a decimal, which you ROUNDED OFF.
As you see your answer was off, so you can't do this.
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