Question

Mr. Jamison deposited $100 into a new savings account on January 1. On the first day of each month thereafter, he deposited three times the amount he deposited in the previous month. On June 15 of the same year, the total amount Mr. Jamison has deposited is $

Answer 1

36,400

Explanation:

Answer 2

$36 400

Explanation:

Step 1

The first step is to figure out how much money is saved at the end of each month for the period from January 1 to June 15. The amount deposited at the end of each month is obtained by multiplying the amount from the previous month by 3.

The amount deposited in January is
`\$100.`

The amount deposited in February is
`1\$00* 3= \$300.`

The amount deposited in March is
`\$300* 3= \$900.`

The amount deposited in April is
`\$900* 3= \$2\700.`

The amount deposited in May is
`\$2\,700* 3= \$8\,100.`

The amount deposited in June is
`\$8\,100* 3= \$24\,300.`

Step 2

The next step is to add up all the money that was deposited into the account. This calculation is shown below,

`\$100+\$300+900+\$\$2\,700+\$8\,100+\$24\,000=\$36\,400`