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The Hartman family is saving $400 monthly for Ronald’s college education. The family anticipates they will need to contribute $20,000 toward his first year of college, which is in 4 years. Which best explains whether the family will have enough money in 4 years?
The family will not have enough money. They will have saved only $16,000.
The family will not have enough money. They will have saved only $19,200.
The family will likely have enough money. They will have saved $16,000 and have accumulated interest.
The family will likely have enough money. They will have saved $19,200 and have accumulated interest.

Respuesta :

adioabiola

The statement which best explains whether the family will have enough money in 4 years is; The family will not have enough money. They will have saved only $19,200.

Savings

  • Amount Hartman family saves monthly = $400
  • Amount needed = $20,000
  • Number of years = 4
  • Number of months = 4 × 12 = 48

Amount saved in 4 years = Amount Hartman family saves monthly × Number of months

= $400 × 48

= $19,200

Learn more about savings:

https://brainly.com/question/25787382

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adioabiola

The statement which best explains whether the family will have enough money in 4 years is; The family will not have enough money. They will have saved only $19,200.

Savings

  • Amount Hartman family saves monthly = $400
  • Amount needed = $20,000
  • Number of years = 4
  • Number of months = 4 × 12 = 48

Amount saved in 4 years = Amount Hartman family saves monthly × Number of months

= $400 × 48

= $19,200

Learn more about savings:

https://brainly.com/question/25787382

#SPJ1

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