Fred and Winnie O'Callahan have put themselves on a very strict budget. Their goal at the end of 23 months is to buy a car for $47,000 in cash. Their budget includes the following per dollar: $.37 Food and lodging 20 Entertainment 18 Educational Fred earns $3,800 per month and Winnie earns $4,600 per month. Required: Using the information above answer the following questions: 1. How much will they have saved after 23 months? 2. After 23 months, will Fred and Winnie have enough cash to buy the car? 4

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Author:Erwin Kreyszig
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Fred and Winnie O'Callahan have put themselves on a very strict budget. Their goal at the end of 23 months is to buy a car for
$47,000 in cash. Their budget includes the following per dollar:
$.37 Food and lodging
20 Entertainment
Educational
18
Fred earns $3,800 per month and Winnie earns $4,600 per month.
Required:
Using the information above answer the following questions:
1. How much will they have saved after 23 months?
2. After 23 months, will Fred and Winnie have enough cash to buy the car?
46
4
Transcribed Image Text:Fred and Winnie O'Callahan have put themselves on a very strict budget. Their goal at the end of 23 months is to buy a car for $47,000 in cash. Their budget includes the following per dollar: $.37 Food and lodging 20 Entertainment Educational 18 Fred earns $3,800 per month and Winnie earns $4,600 per month. Required: Using the information above answer the following questions: 1. How much will they have saved after 23 months? 2. After 23 months, will Fred and Winnie have enough cash to buy the car? 46 4
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