Question

Suppose you open a bank account and deposit $50. Then, every month you deposit $20. Write anequation that relates the total number of dollars deposited, T, and the month, m.Which equation below relates the total number of dollars deposited, T, and the month, m?

Answer 1

Let:

T = Total number of dollars deposited

m = Number of months

b = Initial deposit

So:

`\begin{gathered} T(m)=20m+b \\ where \\ b=50 \\ so\colon \\ T(m)=20m+50 \end{gathered}`