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Course: Financial Literacy > Unit 2

Lesson 3: Saving money
Life skills
Financial Literacy
Budgeting and saving
Saving money
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Saving wisely: planned expenses

Google Classroom
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Problem

Carla wants to make sure she's able to afford her yearly gym membership, which costs $480. She wants to set aside equal monthly amounts so she will have the full amount ready when it's time to renew. She has 12 months until her next payment is due.
How much money will Carla need to save each month?
$
  • Your answer should be
  • an integer, like 6
  • a simplified proper fraction, like 3/5
  • a simplified improper fraction, like 7/4
  • a mixed number, like 1 3/4
  • an exact decimal, like 0.75
  • a multiple of pi, like 12 pi or 2/3 pi
per month