SOLUTION: john has 4800 saved. He plans to save 500 every month so that he can have enough money for a down payment on a house. He needs to save a total of 12,000 for the down payment. How m

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Question 290325: john has 4800 saved. He plans to save 500 every month so that he can have enough money for a down payment on a house. He needs to save a total of 12,000 for the down payment. How many months will he need to save to have the down payment?
Answer by Deina(147) About Me  (Show Source):
You can put this solution on YOUR website!
John has $4,800
He needs $12,000
He is saving $500 per month.

let's let "m" represent the number of months he must save.

+500m+%2B+4800+=+12000+

+500m+%2B+highlight%284800%29+=+12000+-+highlight%284800%29+ Subtract 4800 from each side

+500m+=++7200+ next, divide each side by 500

+500m+%2Fhighlight%28500%29+=++7200+%2Fhighlight%28500%29+

+m+=+14.4+ months, so after 15 months he will have $12,000 + $300 extra
and bob's your uncle!