Question

Mary Moneypenny went to her bank each week and opened a club account. She deposited $21.75 per time period. If she made 12 deposits before interest was credited, how much would she have deposited before interest was credited?

The balance would be $ before interest was credited.

Answer 1

$21.75 x 12 deposits = $261

Answer 2

$261

Explanation:

We are given that Mary Moneypenny went to her bank each week and opened a club account.

She deposited money per time period=$21.75

She made total deposits before interest was credit=12

We have to find out total deposits money in her account before interest was credited.

We are multiplying number of deposits with deposit per time period to obtain the value of total deposits

She would have total deposit money before interest was credit=
`12* 21.75`=$261

Hence, the balance would be $ 261 before interest was credited.