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On Bianca's 5th birthday gift of $100 cash from her dad. Bianca's dad promises to double her money

yearly if Bianca plans to not spend money but instead deposit into "daddy's - super-saving - account".
Will Bianca be able to afford her dream car, a Mini Cooper worth $30,000 when she turns 16? Use words,
numbers, and tables to explain your answer.

User Urgen
by
7.3k points

1 Answer

2 votes

Answer:

Bianca would be able to afford her dream car conveniently when she turns 16.

Explanation:

Bianca was 5 years and wish to project her savings for the next 11 years.

On her 5th birthday, she saves $100

Her dad promises to double her money yearly with respect to a condition. So that;

On her 6th birthday, she would save $ 200

On her 7th birthday, she would save $400

On her 8th birthday, she would save $800

On her 9th birthday, she would save $1600

On her 10th birthday, she would save $ 3200

On her 11th birthday, she would save $ 6400

On her 12th birthday, she would save $12800

On her 13th birthday, she would save $25600

On her 14th birthday, she would save $51200

On her 15th birthday, she would save $102400

On her 16th birthday, she would save $204800

When she turns 16, she would have a total sum of $409500.

Therefore, Bianca would be able to afford her dream car conveniently when she turns 16.

User Tyirvine
by
7.2k points