Raj opens his bank account with $500. He deposits $40 each month. A) write a function that shows the amount in Raj's account after m months. B) after how many months will Raj have $780 in his bank account?


Answer 1

The expression for the money deposited in the bank is 500 + 40m and it will take 7 months to get the required amount.

What is compound interest?

The compound interest is a form of interest where the rate of interest is applied on the amount obtained after every interval of time.

(A) The balance of Raj's account is given as $500.

And, the money deposited every month is $40.

Suppose, the number of months be m.

Then, the following expression can be written for money in account as,

500 + 40m.

(B) The equation for the given case can be written as,

500 + 40m = 780

⇒ 40m = 280

⇒ m = 7

Hence, the required expression is 500 + 40m number of months required is 7.

To know more about compound interest click on,



Answer 2
Answer: Answer to B) is 7 months. Don’t quite understand A) though. More information about how many months you have to show for, would be quite helpful:)

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