Question

Hilda starts the year with $80. Her parents give her 10% of $80 each month for a year. Hilda does not spend or receive any additional money during the year. How much money does Hilda have at the end of 1 year?

Answer 1

$201.07, because to find out how much gathers each much you must multiply the amount she had at the beginning by 1.1, and then multiply that answer you get there by 1.1, on and on until you get to the twelfth month.