You invest $500 into an account that collects 1% interest each month. If you add an addi- tional $50 each week, what will the balance of the account be after 5 months?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Question 12
You invest $500 into an account that collects 1% interest each month. If you add an addi-
tional $50 each week, what will the balance of the account be after 5 months?
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Note: If you would rather show your work on a separate sheet of paper, you may upload your work in
Question 13.
Transcribed Image Text:SKETCHPAD Question 12 You invest $500 into an account that collects 1% interest each month. If you add an addi- tional $50 each week, what will the balance of the account be after 5 months? Show your work Note: If you would rather show your work on a separate sheet of paper, you may upload your work in Question 13.
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