Jennifer made an initial investment of $14,000 in a mutual fund. She invests an additional $300 each month to the mutual fund.
What are the possible totals of her investment in the mutual fund?
Select all that apply.
$23,700
$18,600
$27,600
$21,800
$20,600
$27,900
$26,600
possible totals are
T = 14000+300x
depending in how many months (x) he made deposits.
So, plug in various values for x and choose all that work.
Or, check to see which solutions of
x = (T-14000)/300
yield integer values. For example
(20600-14000)/300 = 6600/300 = 22
So, if he deposited $300 every month for 22 months, he'd have $20,600
To find the possible totals of Jennifer's investment in the mutual fund, we need to consider the initial investment and the additional monthly investments.
The initial investment is $14,000.
The additional monthly investment is $300.
To find the possible totals, we need to calculate the value after each month:
After 1 month: $14,000 + $300 = $14,300
After 2 months: $14,300 + $300 = $14,600
After 3 months: $14,600 + $300 = $14,900
...
After 12 months: $14,000 + ($300 x 12) = $17,600
Therefore, the possible totals of her investment in the mutual fund are:
$14,300
$14,600
$14,900
...
$17,600
Among the options provided, the possible totals are:
$18,600
$21,800
$20,600
Therefore, the possible totals of her investment in the mutual fund are $18,600, $21,800, and $20,600.
To find the possible totals of Jennifer's investment in the mutual fund, we need to consider the initial investment and the additional monthly investments.
The initial investment is $14,000.
Jennifer invests an additional $300 each month. To calculate the total after a certain number of months, we multiply the additional investment by the number of months and add it to the initial investment.
Let's calculate the possible totals for different numbers of months:
After 0 months: $14,000 (only the initial investment)
After 1 month: $14,000 + $300 = $14,300
After 2 months: $14,000 + 2 * $300 = $14,600
After 3 months: $14,000 + 3 * $300 = $14,900
After 4 months: $14,000 + 4 * $300 = $15,200
We can continue this pattern to find the totals for different numbers of months.
Using this method, we can calculate the following possible totals:
$14,000 (initial investment) + 0 * $300 = $14,000
$14,000 (initial investment) + 1 * $300 = $14,300
$14,000 (initial investment) + 2 * $300 = $14,600
$14,000 (initial investment) + 3 * $300 = $14,900
$14,000 (initial investment) + 4 * $300 = $15,200
$14,000 (initial investment) + 5 * $300 = $15,500
$14,000 (initial investment) + 6 * $300 = $15,800
$14,000 (initial investment) + 7 * $300 = $16,100
$14,000 (initial investment) + 8 * $300 = $16,400
And so on...
From the calculated list, the possible totals that match the given options are:
$14,000
$14,900
$15,800
$16,700
$17,600
Therefore, the correct options are:
$14,900
$15,800