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Marina babysits her neighbors' kids once a week and earns $40 each night. She loves coffee, so she treats herself three times a week by buying a $5 latte at her favorite coffee shop. Marina wants to buy a new laptop that costs $800 and has already saved $200.

a. How much money does Marina spend on coffee each week?

b. If she continues her spending habits, how many months will it take Marina to save enough money to buy the laptop?

c. How many months would it take Marina to buy the laptop if she decides to use her mom's coffee maker instead of buying the lattes during the week?

d. How do you think Marina should move forward with her money? Should she continue buying her lattes or save it all to buy the laptop? Explain.

Answer :

Final answer:

Marina spends $15 on coffee each week. If she continues her spending habits, it will take her approximately 3.75 months to save enough money to buy the laptop. If she uses her mom's coffee maker instead of buying lattes, it will take her approximately 2.73 months to save enough money to buy the laptop.

Explanation:

To calculate how much money Marina spends on coffee each week, we multiply the cost of one latte by the number of times she buys one in a week. Since Marina buys a $5 latte three times a week, she spends a total of $15 on coffee each week.

To determine how many months it will take Marina to save enough money to buy the laptop if she continues her spending habits, we need to calculate the difference between the cost of the laptop and the amount of money she has already saved, and then divide that by her weekly savings. In this case, she has saved $200, and the laptop costs $800, so the difference is $800 - $200 = $600. If Marina saves $40 each week, it will take her $600 / $40 = 15 weeks to save enough money to buy the laptop. Since there are approximately 4 weeks in a month, it will take her 15 weeks / 4 weeks/month = 3.75 months to save enough money to buy the laptop.

If Marina decides to use her mom's coffee maker instead of buying lattes during the week, she will be able to save the $15 she would have spent on coffee each week. Following the same calculation as above, it will then take her $600 / $55 = 10.91 weeks to save enough money to buy the laptop. This is equivalent to 10.91 weeks / 4 weeks/month = 2.73 months. Therefore, by using her mom's coffee maker, Marina will be able to save money at a faster rate and buy the laptop in less time.

Marina should consider her priorities and financial goals when deciding how to move forward with her money. If she values having a new laptop more than treating herself to lattes, she should choose to save all her money towards buying the laptop. On the other hand, if she enjoys the lattes and it brings her happiness, she might decide to continue buying them but possibly cut down on the frequency. Ultimately, the decision is up to Marina and what she values the most.

Learn more about Marina's spending habits here:

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