Bebe wants to save $24,000 to build a walk-in closet in her home. She wants to be able to build it within the next 5 years. How much will she need to save per month in order to build her new walk-in closet?
$2,000
$400
$130
$4,800
The total amount to be saved is $24,000. Divide this by 5 to see how much must be saved per year. You should get $4800. Now, divide this number by 12 to see how much must be saved per month. You should get $400.
