Family Savings

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A family had a goal to save $1,890 over the course of a year by making equal monthly deposits into a savings account. At the end of the fourth month, the total amount the family had saved was $687. By how much was the actual savings more than the planned savings?

Review: Family Savings


Explanation

The family's goal of $1,890 was to be divided in 12 equal payments, so each equal monthly payment was, according to the goal, supposed to be



If they had stuck to this plan, the would have made this payment 4 times, so far, by the end of the fourth month, giving us







They gave $687 instead, so they have exceeded their goal so far by dollars.

The correct answer is (A).


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