If ABC Builder saved $50 a month by changing suppliers, how much will they save over 9 months?

Study for the Ontario PHBI Financial Planning and Management Test. Prepare with well-crafted questions and detailed explanations. Ensure success with expert guidance and proven study techniques!

Multiple Choice

If ABC Builder saved $50 a month by changing suppliers, how much will they save over 9 months?

Explanation:
To determine the total savings over a period of 9 months when ABC Builder saves $50 each month, you can multiply the monthly savings by the number of months. The calculation is straightforward: $50 (savings per month) multiplied by 9 months equals $450 in total savings. This means that ABC Builder will have saved $450 after 9 months of this new supplier arrangement. This makes $450 the correct answer, reflecting the cumulative savings accrued each month. Through such simple multiplication, one can easily track financial changes over time, which is a key aspect of financial planning and management in any business context.

To determine the total savings over a period of 9 months when ABC Builder saves $50 each month, you can multiply the monthly savings by the number of months.

The calculation is straightforward: $50 (savings per month) multiplied by 9 months equals $450 in total savings. This means that ABC Builder will have saved $450 after 9 months of this new supplier arrangement.

This makes $450 the correct answer, reflecting the cumulative savings accrued each month. Through such simple multiplication, one can easily track financial changes over time, which is a key aspect of financial planning and management in any business context.

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