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23 December, 23:27

I'm more sophisticated than my little sister so I save my money in a bank account that pays me 3% interest on the money in the account at the end of each month. (If I take my money out before the end of the month, I don't earn any interest for the month.) I started the account with $50 that I got for my birthday. Create a mathematical model of the amount of money I will have in the account after m months.

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  1. R
    24 December, 02:00
    0
    A=50 (1+0.03/12) ^12t

    A=amount

    t=number of years
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