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8 September, 07:45

Nancy's parents gave her $200 to start her savings account. After 5 months of saving, Nancy has $350 in her account. What is the rate of change of the amount of money in her account each month?

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  1. 8 September, 09:59
    0
    Current Amount = Starting Amount (1 + rate of change) ^number of months

    350 = 200 (1 + r) ^5

    350/200 = (1+r) ^5

    sqrt5 (350/200) = 1+r

    sqrt5 (350/200) - 1 = r
  2. 8 September, 10:02
    0
    30 dollars every month

    200 + 5x = 350

    X=30
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