Answer: 7(m+2m) is equal to 7(m) + 7(2m)
Answer:
$6,506.51
Step-by-step explanation:
Recall that increasing an amount C in x% is equivalent to multiply it by (1+x/100)
As we have 4% APR, the monthly interest would be (4/12)% = 0.04/12
<u>Month 0</u> (first payment)
$250
Month 1

<u>Month 2</u>

<u>Month 3</u>

<u>Month 24 (2 years)</u>

The sum

is the sum of the first 24 terms of a geometric sequence with common ratio
which is

so, after 2 years the saving balance is
250*26.02603071 = 6,506.50767= $6,506.51 rounded to the nearest cent.
The initial investment was 3.03 because this is the value that does not change and comes before the value with the exponent "2x" is mentioned.
Could be 154. 154 rounded to nearest ten= 150, rounded to nearest 100= 200