In 90 days, Jerome saved $31.50. What was his average daily savings?
The correct answer and explanation is:
To calculate Jerome’s average daily savings, you need to divide the total amount saved by the number of days he saved. The problem tells you that Jerome saved $31.50 over 90 days.
Step-by-step Calculation:
- Total savings: $31.50
- Number of days: 90
To find the average daily savings, divide the total savings by the number of days: Average daily savings=31.5090\text{Average daily savings} = \frac{31.50}{90} Average daily savings=0.35\text{Average daily savings} = 0.35
So, Jerome saved an average of $0.35 per day.
Explanation:
When Jerome saves money over a period of time, it’s important to determine how much he saves on a daily basis. To do this, you divide the total amount saved by the total number of days. In this case, the total savings of $31.50 was accumulated over 90 days, so dividing $31.50 by 90 gives the average amount he saved each day.
This approach helps to understand how much money is saved consistently, day by day. For example, if Jerome saved more or less on certain days, you could track fluctuations. However, in this case, by dividing the total savings by the total time period, you get a straightforward understanding of his daily savings behavior.
This type of calculation is useful in personal finance to assess how effectively someone is saving over a long period. If Jerome continued saving at this rate, he would save an additional $31.50 over the next 90 days.