Mr. and Mrs. Steele, deposited $8,000 to open a college savings account for their granddaughter on the day she was born. The acc
ount pays 5% simple interest annually. If they made no other deposits or withdrawals since then, how much money would be in the account after 18 years?
So, we have the information: Save $10 first month $5 the next months X = amount of months Cost = 175 So, it will take 7 months. 10+15+20+25+30+35+40 = 175
