Question

Write a sequence that represents the amount of money that will accumulate

Answer 1

tn = P(1+r/(12*100)^(12*t)

Answer 2

At the end of first month, you will have:
P + P*r/12

At the end of second month, you will have:
P + 2*P*r/12 + P*r*r/144

At the end of third month, you will have:
P + 3*P*r/12 + 2*P*r*r/144 + P*r*r*r/(144*12)

Essentially, after n months, you will have:
P(1+r/12)^n

That is tn, where n is the number of months money is invested.

Answer 3

since it is compounded monthly, we divide the rate by 12 and multiply the time by 12

Answer 4

sure ... and the t is time in years.