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8 April, 17:05

Mike started a savings account by depositing $9. Each month he deposits more money than the month before. At the end of 41 months, he has saved $9,389.00. How much more does he deposit each month

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  1. 8 April, 17:28
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    We have to calculate how much more money does Mike deposit each month. This can be done using the formula for the arythmetic sequence; S n = n/2 * (a1 + an). Here: a 1 = 9, n = 41 and a n = a 1 + (n-1) d = 9 + 40 d. So : 9,389 = 41/2 * (9 + 9 + 40 d); 9,389 = 41 / 2 * (18 + 40 d); 9,389 = 41 * (9 + 20 d); 9,389 = 369 + 820 d; 820 d = 9,389 - 369; 820 d = 9,020; d = 9,020 : 820; d = 11. Answer: He deposits $11 more each month.
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