Can someone help me figure out these? Thanks!!

[lilybean]

Lesson 2: Each year a certain amount of money is deposited in an account that pays an annual interest rate of r so that at the end of each year the balance in the account is multiplied by a growth factor of x=1+r. $500 is deposited at the start of the first year, an additional $200 is deposited at the start of the next year, and $600 at the start of the following year.

a. Fill in the blanks to write an expression for the value of the account at the end of three years in terms of the growth factor x.
___x^____+____x^____+_____x

b. What is the amount (to the nearest cent) in the account at the end of three years if the interest rate is 2%? (Find the x by doing 1 + 2% and then plugging it into the function for all the x values.).

$___

 

[Deleted member 4993]

Lesson 2: Each year a certain amount of money is deposited in an account that pays an annual interest rate of r so that at the end of each year the balance in the account is multiplied by a growth factor of x=1+r. $500 is deposited at the start of the first year, an additional $200 is deposited at the start of the next year, and $600 at the start of the following year.

a. Fill in the blanks to write an expression for the value of the account at the end of three years in terms of the growth factor x.
___x^____+____x^____+_____x

b. What is the amount (to the nearest cent) in the account at the end of three years if the interest rate is 2%? (Find the x by doing 1 + 2% and then plugging it into the function for all the x values.).

$___

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[Steven G]

Lesson 2: Each year a certain amount of money is deposited in an account that pays an annual interest rate of r so that at the end of each year the balance in the account is multiplied by a growth factor of x=1+r. $500 is deposited at the start of the first year, an additional $200 is deposited at the start of the next year, and $600 at the start of the following year.

a. Fill in the blanks to write an expression for the value of the account at the end of three years in terms of the growth factor x.
___x^____+____x^____+_____x

b. What is the amount (to the nearest cent) in the account at the end of three years if the interest rate is 2%? (Find the x by doing 1 + 2% and then plugging it into the function for all the x values.).

$___

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