Question

Adelyn has deposited $110 into a savings account each month this year. She plans on depositing $10 more per month into the savings account each year. How much money will Adelyn deposit into the account each month in 9 years?

Answer 1

In 9 years, Adelyn will deposit $200 monthly into her savings account, which is calculated by adding $90 (9 years times $10 annual increment) to the initial $110 monthly deposit.

Step-by-step explanation:

Adelyn has deposited $110 into a savings account each month this year and plans to increase her monthly deposit by $10 each year. To determine how much Adelyn will deposit each month in 9 years, we need to calculate the amount after the annual increment has been applied for 9 years.

The formula for the amount deposited in the nth year, where n is the number of years from now and a is the annual increment, is given by:

Monthly Deposit in nth year = Initial Monthly Deposit + (n * Annual Increment)

Plugging in the given values, we get:

Monthly Deposit in 9th year = $110 + (9 * $10) = $110 + $90 = $200

Therefore, in 9 years, Adelyn will deposit $200 into her savings account each month.