Question

5.Jackie deposited $5 into a checking account in February. For each month following, the deposit
amount was doubled. How much money was deposited in the checking account in the month of
August? Dont need the answer i need to know what formula i would use to solve this

Answer 1

each month money is getting doubled.. so
so, after one month it becomes 2 times
after second month it becomes 4 times
after 3rd month, 8 times...

u see.. ?
so formula is :
\[ 5 * 2^{months}\]

Answer 2

it is \[ 5 * 2^{number\ of\ months}\]

Answer 3

is that an arithmetic series formual? what kind of formual do you use.

Answer 4

good question. it becomes geometric series. but the formula we can use is :

if P is the money, R is the rate at which it grows, then
\[Pnew = P * R^n\]

n is number of months here

Answer 5

thats not what i asked. i need to know if i would use the formual for an arithmetic sequence, arithmetic series, geometric sequence, or geometric series to solve this.

Answer 6

geometric sequence right ? with a common ratio of 2

Answer 7

thats why im asking.... i dont know.

Answer 8

yh.. you need to use geomteric sequence because, the ratio is constant : 2

ar^n

a= 5, r= 2, n =6 for this problem

Answer 9

320$