Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

# This is a math question

How much do you have to put in a saving account to save up 10,000 dollars? I get paid every 2 weeks.

Asked by Anonymous at 2:09 PM on May. 25, 2010 in Money & Work

• five grand the first two weeks, and five grand the second two weeks.
seemed pretty simple.

Answer by jewjewbee at 2:11 PM on May. 25, 2010

• How fast do you want to save it?
In one year 384.62 Every time you get paid

Answer by ABusyBee at 2:12 PM on May. 25, 2010

• How much do you get paid every 2 weeks?How much are your bills?Whatever you have left over keep about 100 for yourself for "FUN" and save the rest :)

Answer by ryanlynn at 2:13 PM on May. 25, 2010

• You get paid 26x a year so chose how long you want it to take my exaple above is 1 yr.
10,000 / 26=

The amount divided by how many times you get paid

Answer by ABusyBee at 2:14 PM on May. 25, 2010

• It just a general question I was just wanting to know how much,and how long do u think it would take. If I put the money in there every 2 weeks?

Answer by Anonymous at 2:14 PM on May. 25, 2010

• That's truly due to how much you put in every 2 weeks. (2 weeks of pay equals 26 pay periods a year).

\$10 each pay period would take you 38.5 years
\$20 each pay period would take you 19.2 years
\$30 each pay period would take you 12.8 years
\$40 each pay period would take you 9.6 years
\$50 each pay period would take you 7.8 years

The more you put each paid period the less time it will take, plain and simple. No one can give you a direct answer without knowing exactly how much you plan on putting in each paid period. Without that knowledge this is no telling how long it will take you. Personally we put \$300 in saving every month; so for us it would take us 2.7 years to get \$10,000.

Answer by SAHMinIL2 at 2:47 PM on May. 25, 2010

• Thank u that's what I needed to know.

Answer by mamaofficer at 4:51 PM on May. 25, 2010

• Well, actually, that's assuming that you get no interest on your savings account. If you do get interest, then you have to take that into account too.

Answer by evwsquared at 6:43 PM on May. 27, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.

Next question in Money & Work
Carnival Game Booth Ideas

Next question overall (Relationships)
:(