Question

Chloe began depositing money at the beginning of a year and had saved dollars by the end of that year. She continued to deposit funds and by the end of the next year had saved a total of dollars. Which of the following is closest to the percent increase in the amount Chloe saved during the second year compared to the amount she saved during the first year?
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Answer Choices

  • A.
  • B.
  • C.
  • D.
  • E.

Steps

ExplanationCalculationsHelp
We first create variables for the amounts saved in each year.
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TRANS1-A
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We translate "had saved 180 dollars by the end of that year" into an equality.
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TRANS1-B
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We translate "by the end of the next year had saved a total of 420 dollars" into a sum.
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TRANS1-C
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We solve for the second-year saving amount by subtracting the first-year amount from the total.
We substitute the first-year amount into the expression for the second-year saving.
We find the value of the second-year saving.
We calculate the percent increase in total savings from the end of the first year to the end of the second year.
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TRANS2-A
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We convert the fraction to a percentage.
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Final Answer

D