Question

Oliver deposits $1,000 in his Interest-bearing bank account. The balance increases by %15 each month

Answer 1

Step-by-step explanation:

Oliver deposits P= $1,000

Then total amount A after n months given that the balance increases by %15 each month can be calculated as

$A= 1000(1+15/100)^n$

Assuming the increase in amount is compounded monthly.