Question

Mike baretta had $25 of his first monthly paycheck deposited in the bank. during each of the next 15 months, he increased the monthly deposit by $5.00. how much money did he deposit in the bank in the 16 month period?

Answer 1

In his first paycheck he deposited $25

2nd paycheck, he deposited $30 since he increased the contribution by $5

$35 in his 3rd, $40 in his 4th, $45 in his 5th, $50 in his 6th, $55 in his 7th, $60 in his 8th, $65 in his 9th, $70 in his 10th, $75 in his 11th, $80 in his 12th $85 in his 13th, $90 in his 14th, $95 in his 15th and $100 in his 16th

So the total mount deposited = 25+30+35+40+45+50+55+60+65+70+75+80+85+90+95+100 = $1,000

Total amount deposited in the bank during 16 month period = $1,000