Answer:
They contributed $8
Step-by-step explanation:
Given
[tex]Savings = \$40[/tex]
Proportion of savings: [tex]Parent = \$1[/tex] [tex]You = \$4[/tex]
Required
Determine your parent contribution
From the question, we understand that, they contribute $1 when you save $1.
This means that the unit savings is:
[tex]Unit = \$4 + \$1[/tex]
[tex]Unit = \$5[/tex]
The parent contribution is then calculated as:
[tex]\frac{Parent\ Proportion}{Unit\ Savings} * Total\ Savings[/tex]
[tex]= \frac{\$1}{\$5} * \$40[/tex]
[tex]= \frac{1}{5} * \$40[/tex]
[tex]= \frac{1* \$40}{5}[/tex]
[tex]= \frac{\$40}{5}[/tex]
[tex]= \$8[/tex]
Hence, they have contributed $8
