Diep is saving money so he can buy a used car in 12 months. The total cost of the car he wants is $1,450. Diep determines that he needs to save $120 each month to be able to afford the car, as shown below.

mc024-1.jpg

What error did Diep make?
There is a subtraction error. Diep will need to save less than $120 each month.
There is a subtraction error. Diep will need to save exactly $121 each month.
There is a multiplication error. Diep needs to save exactly $120.83 each month.
There is a multiplication error. Diep needs to save an average of mc024-2.jpg each month. Some months he needs to save $120.83 and other months he needs to save $120.84.