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The picture attached

The picture attached-example-1
User Xianwei
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1 Answer

1 vote

Answer:

Explanation:

m1 = 300

m2= 300(1+.05) = 300(1.05)

m3 = 300(1.05)(1.05)

m4= 300(1.05)(1.05)(1.05)

each subsequent month is the previous month times "1 + .05"

the "one" preserving the running total, and the extra ".05" adding the 5%

the repeating (1.05)(1.05)(1.05) is notational simplified using exponents

(1.05)(1.05)(1.05) =
(1.05)^(3)

User NIKUNJ KOTHIYA
by
6.3k points
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