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Nancy’s parents gave her $200 to start her savings account. After 5 months of saving, Nancy has $350 in her account. What is the rate of change of the amount of money in her account each month?
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2 votes
Nancy’s parents gave her $200 to start her savings account. After 5 months of saving, Nancy has $350 in her account. What is the rate of change of the amount of money in her account each month?

User Gregg Duncan
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2 Answers

5 votes
Current Amount = Starting Amount (1 + rate of change)^number of months
350 = 200 ( 1 + r)^5
350/200 = (1+r)^5
sqrt5 (350/200) = 1+r
sqrt5 (350/200) - 1 = r
User Sml
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8.4k points
2 votes
30 dollars every month

200+ 5x = 350

X=30
User Lavya
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7.7k points
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