At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her account at the end of 3 years is
4 answers
200 *1.2^3 + 200*1.2^2 + 200*1.2
$873.6
what expression represents the series 1+5+25+125+625?
Molly and Vitto deposit money into their savings accounts at the end of each month. The table shows the account balances.
If their patterns of saving continue, and neither earns interest nor withdraws any of the money, how will the balances compare after a very long time?
If their patterns of saving continue, and neither earns interest nor withdraws any of the money, how will the balances compare after a very long time?
1 answer