The money required to save every month to buy a home to collect $21.990 in 30 months would be the option c. $733.
To calculate the monthly saved amount we need to understand that the total amount should be equally divided into 30 months:
- total amount = monthly saved money* number of months
- monthly saved money = [tex]\dfrac{\text{Total amount}}{\text{Number of months}}[/tex]
Given:
Total amount: 21,990
Number of months: 30
Solution:
Putting given variables in the second formula we derived above:
monthly saved money = [tex]\frac{21990}{30}[/tex]
monthly saved money = 733
thus, the correct amount to be saved every month would be - $733
Learn more about similar examples:
https://brainly.com/question/21962643
