Question

money in a particular savings account increases by about 6% after a year. how much money will be in the account after one year if the initial amount is $100? $50? $200? $125? x dollars? if you get stuck, consider using diagrams or a table to organize your work.

Answer 1

FIRST STEP)

You have various initial capital C for it, the rate of interest is 6%, and the time is n = 1 year

second step

using the formula  M = C [1+(i*n)] you calculate the values,

M1= 100[1+(0,06 *1)] = 106

M2= 50[1+(0,06*1)] = 53

M3= 200(1,06) = 212

M4 = 125(1,06) = 132,5

$100 $50  $200 $125

$106 $53  $212  $132,5