Mathematics
cullenmcglynn
26

Eloise is investing in a retirement account. She plans on adding an additional $50 at the end of every year and the expected monthly rate of return is 3% of the amount invested, calculated at the end of the month. If she starts with $1000 in the account find an equation that models the amount of money in the account each month for the first year.

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(1) Answers
iamcoollerthanu

50 multiplied by 0.3=15 1,000 divided by 15=66.66666667    So she gets $66.66 every month for the rest of the year.

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