if you need to save $1,000 for a new laptop and you‘ll need it in six months, what would your weekly savings goal need to be?

if you need to save $1,000 for a new laptop and you‘ll need it in six months, what would your weekly savings goal need to be?

1 day ago 1

Nature

To save $1,000 in six months, you need to determine how many weeks are in six months and then divide the total amount by that number.

Step 1: Calculate the number of weeks in six months

On average, 1 month ≈ 4.33 weeks (52 weeks ÷ 12 months)
So, 6 months ≈ 6 × 4.33 = 25.98 weeks (approximately 26 weeks)

Step 2: Calculate the weekly savings goal

Total amount to save = $1,000
Number of weeks = 26
Weekly savings goal = $1,000 ÷ 26 ≈ $38.46

Final answer:

You need to save about $38.46 per week to reach $1,000 in six months.

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