Mike and kate plan to save money for their wedding over a 20 month period. they will need to save $8,000 to pay for the wedding. they set aside the same amount each month. after a year they saved $4,000. mike and kate know they must adjust their plan in order to meet their goal, so they came up with the following options: option a: stay with saving the same amount they've been saving each month but postpone the wedding 2 months. option b: increase the amount of money they save each month by $80 from what they've been saving. which of the following is a true statement? a. only option a will allow them to meet their goal. b. only option b will allow them to meet their goal. c. both options a and b will allow them to meet their goal. d. neither option a nor option b will allow them to meet their goal.

Correct answer is d: Neither option A nor option B will allow them to meet their goal.

Step-by-step explanation:

Money needed for wedding: 8000 in 20 months

Set aside the same amount each month: 4000 over 12 months

which becomes = $333.33

Months left: 8

Lets evaluate option A first:

Save $333.33 each month and postpone wedding for two months

so by adding two months: 10 months are left till wedding

Money save in 10 months: 10 × 333.33 = $3333.33

So total will become 4000 + 3333.33 = $7333.33 (Not feasible)

Lets evaluate options B:

Increase the amount of saving by $ 80:

Amount saved each months first year: 333.33

After adding 80: 333.33 + 80 = 413.33(amount saved each month in 8 months)

8 months are left to wedding:

so they will save 8 × 413.33 = $3306.64

Total will become: 4000 + 3306.64 = $7306.64(Not feasible)

So correct answer is d: Neither option A nor option B will allow them to meet their goal.