Suppose you deposit m dollars at the beginning of every month in a savings account that earns a monthly interest rate of r. For an initial investment of m dollars, the amount of money in your account at the beginning of the second month is the sum of your second deposit and your initial deposit plus interest. Denote by An the amount of money in your account in the nth month.

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A: So the formula will become,

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A: Thanks for the question :)And your upvote will be really appreciable ;)

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A: Solution:

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A: We can solve maximum one question as per our guideline ,you can repost other parts

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A: Given interest is compounded annually, therefore n=1

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A: By using formula of simple interest.

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A: Here, P=$100,000 r=9% t=8 years

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Q: O Suppose me put earning 3%interest for tong will it take (in of $28,000 Round +

A: We will use the concept of Compound interest to evaluate the time.

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