Question

Can someone help me out on this problem and show work

Answer 1

Answer: 4230.14

Explanation:

The amount that the balance is multiplied by each month is

`(2448)/(2040)=1.2`.

So, after t months, the balance is
`1700(1.2)^(t-1)`.

Substituting in t=6, we get the balance is

`1700(1.2)^(6-1)=\boxed{4230.14}`, to the nearest hundredth.