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14 September, 12:32

In March, a family starts saving for a vacation they are planning for the end of August. The family expects the vacation to cost $1380. They start with $125. At the beginning of each month they plan to deposit 20 % more than the previous month. Will they have enough money for their trip? If not, how much more do they need?

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  1. 14 September, 13:32
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    No, they need $138.76 more

    Step-by-step explanation:

    April:

    10% of $125 = 12.5

    12.5 x 2 = 25

    $125 + $25 = $150

    May:

    10% of $150 = $15

    $15 x 2 = $30

    $150 + $30 = $180 (180 is 20% more than 150)

    June:

    10% of $180 = $18

    $18 x 2 = $36

    $180 + $36 = $216

    July:

    10% of $216 = $21.60

    $21.60 x 2 = $43.20

    $216 + $43.20 = $259.20

    August:

    10% of $259.20 = $25.92

    $25.92 x 2 = $51.84

    $259.20 + $51.84 = $311.04

    $125 + $150 + $180 + $216 + £259.20 + $311.04 = $1241.24

    $1380 - $1241.24 = $138.76
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