2007 AMC 8 Problem 5

Chandler wants to buy a \$500 mountain bike. For his birthday, his grandparents send him \$50, his aunt sends him \$35 and his cousin gives him \$15. He earns \$16 per week for his paper route. He will use all of his birthday money and all of the money he earns from his paper route. In how many weeks will he be able to buy the mountain bike?

\textbf{(A)}\ 24 \qquad\textbf{(B)}\ 25 \qquad\textbf{(C)}\ 26 \qquad\textbf{(D)}\ 27 \qquad\textbf{(E)}\ 28

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.