Taylor pays $5.25 for 0.5 yards of fabric. What is the cost per yard?
2 answers:
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No, They will need 131.94 more dollars.
The exponential growth formula can help us find how much is to be deposited each month and then adding them together for the 5 months after the initial deposit will give us the amount saved.
a is the initial value (120)
r is the rate of growth (0.25)
x is time [0,1,2,3,4,5)
March
April
May
June
July
August
Totals
120+150+187.5+234.38+292.97+366.21= 1351.06 totalt saved by august
1483-1351.06 = 131.94 needed.
The exponential growth formula can help us find how much is to be deposited each month and then adding them together for the 5 months after the initial deposit will give us the amount saved.
a is the initial value (120)
r is the rate of growth (0.25)
x is time [0,1,2,3,4,5)
March
April
May
June
July
August
Totals
120+150+187.5+234.38+292.97+366.21= 1351.06 totalt saved by august
1483-1351.06 = 131.94 needed.