Question

Mr. Jamison deposited $100 into a new savings account on January 1. On the first day of each month thereafter, he deposited three times the amount he deposited in the previous month. On June 15 of the same year, the total amount Mr. Jamison has deposited is $

Answer 1

Answer:

$36,400

Step-by-step explanation:

On January 1st the account holds $100. Mr. Jamison deposits 3x times the amount on Feb 1 which is $300. He does this again for March and deposits $900. Each time he triples the amount previously. See below:

Deposits

Jan.....100

Feb....300

March.....900

April....2700

May....8100

June....24,300

To find the total amount for June 15 of the same year, we add each deposit. 100+300+900+2700+8100+24,300=36,400.