Question

Tanya plans to make a series of deposits of $3,000 every year for five years. What will be the total amount of her deposits over the five-year period?

a) $9,000
b) $12,000
c) $15,000
d) $18,000

Answer 1

Tanya plans to make a series of deposits of $3,000 every year for five years. The total amount of her deposits over the five-year period would be $15,000.

Step-by-step explanation:

To find the total amount of Tanya's deposits over the five-year period, we need to calculate the sum of her annual deposits. Tanya plans to make a series of deposits of $3,000 every year for five years. Therefore, the total amount of her deposits over the five-year period would be:

Total deposits = Annual deposit amount × Number of years

Total deposits = $3,000 × 5 = $15,000

So, the correct answer is c) $15,000.