Arithmetic Sequence
A man puts $300 into a savings account at the end of each year for 15 yrs. If his money draws 3% simple interest, how much will he have in the account at the end of 15 yrs?

Question

Arithmetic Sequence
A man puts $300 into a savings account at the end of each year for 15 yrs. If his money draws 3% simple interest, how much will he have in the account at the end of 15 yrs?

anonymous · Answer

M = C + I
I = Cdt

M = C + Cdt
M = 300 + (300)(0.03)(15)
M = 300 + 135
M= 435$

anonymous · Answer

D being the interest in decimal form, C being the initial deposit or capital, t being the time in years and M being the total money in the account.

anonymous · Answer

Understand?

anonymous · Answer

@GodlyMaths  the result is not 426? just making sure

anonymous · Answer

No, I'm quite confuse