nathan is planning a trip to new zealand that will cost him $3700. if his yearly net income is $12,500, and he has 9 months to save for the trip, how much should he save each month to afford the trip
First we need to see how much he makes a month
for that we do 12500/12 = 1041 & 2/3
Next we do 3700/9 = 411.11, which is less than his monthly income so it is possible for him to save that.
This means he would have to save $411.11 each month and he would have a reaming of 630.55 each month. Note in a real life example he should save more than needed in case something comes up.