Posted by Amy on Monday, September 5, 2011 at 6:22pm.
For the first five months algebrically i got:
1: 2400
2: 2040
3: 2448
4: 2080.8
5: 2496.96
i tried using this formula:
2000(1+0.2)^n
when i plugged in 1 for n i got 2400.
however, when i plugged in 2 for n i got 2880. which isn't right.
so i changed the formula to 2040(1+ .2)^1 I got the right answer
but is there a simple formula where i can just plug in the "n" and get the right amount?
should i repost this?
Related Questions
Math please help! - invested 2000 gains 0.2 every odd numbered month gains 0.15...
Math - invested 2000 gains 0.2 every odd numbered month final value after first ...
mathamatics - on december31, 1995, paul invested $2000 in a stock. his stocker ...
linear programming - I am not even sure how to set up the objective function... ...
personal finance - in this problem: if you wanted to put aside $2,000 a year for...
Math - Ms. Jones had her class keep track of the losses and gains of a ...
government - congress has set the day for national elections as a. the monday ...
government - congress has set the day for national elections as a. the monday ...
contemporary Math - If there are 2 red disks numbered 1 through 2, and 6 yellow ...
Math 8R - Help! - Rhonda decided to keep a record of her weight gains and losses...
For Further Reading