Question

Michelle opened her bank account on September 1st with $25 and continues to deposit $25 each month.

Answer 1

Michelle opened her bank account on September 1st with $25 and continues to deposit $25 each month. Calculate the time Michelle will have a total of $500 in her account.

Answer:

19 months

Step-by-step explanation:

Initial deposit =$25

Monthly deposit = $25

Total deposit, y after x months can be modeled using the relation :

y = $25 + $25x

To have a total of $500 ; y = 500

$500 = $25 + 25x

$500 - $25 = $25x

$475 = $25x

x = $475 / $25

x = 19 months

Hence, Michelle will have deposited a total of $500 in his account after 19 months