posted by Amy on .
gains 0.2 every odd numbered month
final value after first month?
i've tried solving this with a formula, but every formula i come up with is wrong.
Could someone tell me how to solve this and plug in the right numbers into a formula?
Are we to assume that there is a 20% gain for every odd-numbered month and for the even-numbered months the investment stays constant?
Since the "first" month would be odd-numbered, the amount after the first month would simply be
2000(1.2) = 2400
the "formula" would simply be
amount = 2000(1 + .2)^1
for every even-numbered number month there is a 15% gain.