Question

if you save three pennies on January 1, six pennies on January 2, nine pennies on January 3, and continue this pattern for one year (not a leap year), what will be the value of your entire savings, in dollars, at the end of that one year? Express your answer as a decimal.

Answer 1

Answer:

2003.85

Step-by-step explanation:

I realize I'm a year late, but the math of the previous answer was so terrible I'm honestly too horrified to let this be.

You have save by an increasing amount of 3 pennies per day. You start with 3 and build from that, each day, for 365 days. First, you must figure out what amount of pennies you shoved into your account on the final 365th day.

An= a1+(n-1)d

An=term you want

a1= term you begin with

n= term you want

d= constant amount

A_365= 3 + (365-1)*3

A_365= 1095

Arithmetic Sum: Sn = N/2 (a1 + an)

365/2 * (3 + 1095) = 200385.

This means you've invested a total of 200385 PENNIES after 365 days.

The question asks for dollars, not your rusting lincoln's.

As (I hope) you know, 1 Dollar = 100 pennies

200385 pennies/100 = 2003.85.

This means you have $2003.85 in your account by the conclusion of the 365th day.