Question

2.1.2 Savings with Regular Deposits. Suppose you deposit D dollars at the beginning of each month into an account that pays a monthly rate of r as a decimal. Then, the balance B of the account after t months is given by... Remark: I will type it on one line, the way you would on Wolfram Alpha... B = D(1+r)*((1+r)^t-1)/r) Suppose you deposit $150 (hint: figure out which letter it stands for) at the beginning of each month into an account that pays a monthly rate of r = 0.005 (hint: it gives you the value of one of the variables/parameters - which one?), which corresponds to an APR of 6% (hint: if you don't know what to do with a number, maybe you don't need that number). How long (hint: which variable has a time flavor?) does it take for the account balance to build to $2500 (hint: so, one of our variables is 2500 - which one?)? Report your answer to the nearest whole month.

          2.1.2
Savings with Regular Deposits. Suppose you deposit D dollars at the beginning of each month
into an account that pays a monthly rate of r as a decimal. Then, the balance B of the account
after t months is given by...
Remark: I will type it on one line, the way you would on Wolfram Alpha...
B = D(1+r)*((1+r)^t-1)/r)
Suppose you deposit $150 (hint: figure out which letter it stands for) at the beginning of each
month into an account that pays a monthly rate of r = 0.005 (hint: it gives you the value of one
of the variables/parameters - which one?), which corresponds to an APR of 6% (hint: if you
don't know what to do with a number, maybe you don't need that number). How long (hint:
which variable has a time flavor?) does it take for the account balance to build to $2500 (hint:
so, one of our variables is 2500 - which one?)? Report your answer to the nearest whole
month.

2.1.2
Savings with Regular Deposits. Suppose you deposit D dollars at the beginning of each month
into an account that pays a monthly rate of r as a decimal. Then, the balance B of the account
after t months is given by...
Remark: I will type it on one line, the way you would on Wolfram Alpha...
B = D(1+r)*((1+r)^t-1)/r)
Suppose you deposit 150 (hint: figure out which letter it stands for) at the beginning of each
month into an account that pays a monthly rate of r = 0.005 (hint: it gives you the value of one
of the variables/parameters - which one?), which corresponds to an APR of 6% (hint: if you
don't know what to do with a number, maybe you don't need that number). How long (hint:
which variable has a time flavor?) does it take for the account balance to build to2500 (hint:
so, one of our variables is 2500 - which one?)? Report your answer to the nearest whole
month.

Added by Mary H.

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