You Are Saving for a New $1226 (Including Taxes)laptop Computer

question 96

Multiple Choice

You are saving for a new $1226 (including taxes) laptop computer using earnings from your part-time job.  At that job, you work 20 hours\week, earning $10.25\hour take home pay.  If you can save 25% of all of your income, how many weeks will it take for you to save enough money?

• A)48 weeks
• B)24 weeks
• C)12 weeks
• D)6 weeks

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Definitions:

Normal Distribution

A symmetric, bell-shaped frequency distribution that can be defined by its mean and standard deviation.

Percentage Return

The profit or deficit achieved on an investment over a designated duration, measured as a percentage of the investment’s initial value.

Bond

A fixed income investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period at a variable or fixed interest rate.

Capital Gains Yield

The change in the price of a security or investment over a specified period, excluding dividends, expressed as a percentage of the investment's initial price.