Question

Complete the table to represent how much each individual monthly deposit of $50 will be worth at the end of 12 months. Enter your answers as an expression in the form

a(1 + r)n, as shown for the first month.

Answer 1

600

Explanation:

its 50 X 12

thats how you would solve that

Answer 2

The first month has the equation raised to 11 which is the number of months left in the period.

So each month the equation would be the same except it would be raised to 1 less than the previous month.

Month 2 = 50(1.003)^10

Month 3 = 50(1.003)^9

Month 4 = 50(1.003)^8

Month 5 = 50(1.003)^7

Month 6 = 50(1.003)^6

Month 7 = 50(1.003)^5

Month 8 = 50(1.003)^4

Month 9 = 50(1.003)^3

Month 10 = 50(1.003)^2

Month 11 = 50(1.003)^1

Month 12 = 50(1.003) ( the last month would not be raised to anything)