Imagine that you stop at a nearby coffee chain and purchase a $5 coffee every morning on your way to work. You do this 5 days a week for 50 weeks out of the year. While it may seem like a small expense each day, this habit can add up and affect your personal finances. How much would this habit cost you over the next five years

$6250

Step-by-step explanation:

Hello!

First, we find out how much you spend a week.

Since you buy a $5 coffee 5 days a week we multiply the price for a coffee by 5.

5 * 5 = 25.

Next, we find out how much you spend a year.

Since you do it 50 weeks a year we multiply the amount you spend a week by 50

25 * 50 = 1250

Then, we find out how much you spend in 5 years.

We multiply the cost a year by the amount of years

1250 * 5 = 6250

The answer is $6250

Hope this helps!