In June, Cory begins to save money for a video game and a TV he wants to buy in December. He starts with $20. Each month he plans to save 10% more than the previous month. How much money will he have at the end of December?

Answer 1

Let's break this down month by month:

June: Cory saves $20
July: 10% more than June = $20 + $20 x 10% = $20 + $2 = $22
August: 10% more than July = $22 + $22 x 10% = $22 + $2.20 = $24.20
September: 10% more than August = $24.20 + $24.20 x 10% = $24.20 + $2.42 = $26.62
October: 10% more than September = $26.62 + $26.62 x 10% = $26.62 + $2.66 = $29.28
November: 10% more than October = $29.28 + $29.28 x 10% = $29.28 + $2.93 = $32.21
December: 10% more than November = $32.21 + $32.21 x 10% = $32.21 + $3.22 = $35.43

Therefore, at the end of December, Cory will have saved $35.43.