You need to save $1,300 to go overseas in two years. You deposit $800 in a savings account today. The account earns 10% interest. You will make an additional deposit in one year. How much must you deposit in one year in order to have enough to go on the trip?

The additional deposit to be made in one year should be $ 301.81.

Step-by-step explanation:

Given that I need to save $ 1,300 to go overseas in two years, and I deposit $ 800 in a savings account today, that earns 10% interest, and I will make an additional deposit in one year, to determine how much must I deposit in one year in order to have enough to go on the trip, the following calculation must be performed:

800 x 1.1 = 880

(880 + X) x 1.1 = 1300

1300 / 1.1 = 1,181.81

1,181.81 - 880 = X

301.81 = X

Therefore, the additional deposit to be made in one year should be $ 301.81.

Having a child is expensive, where you need to buy them food, diapers, a chair clothes and more, they also take stance in the house and a lot of caring. But to look on the bright side, baby food isn’t expensive, you may get a lot but in the end of the day it won’t make a big of a difference, because the food prices aren’t as big as surely food, baby food is made out of small portion of ingredients, and imagine host someone eating little more than usual, it would feel like that.