## PLEASE HELP ASAP. GIVING BRAINLIEST Gizmo is investing in TikTok stock. He plans on adding an additional $250 at the end of every year

Question

PLEASE HELP ASAP. GIVING BRAINLIEST

Gizmo is investing in TikTok stock. He plans on adding an additional $250 at the end of every year and the expected monthly rate of return is 8.3% of the amount invested, calculated at the end of the month. If he starts with $425 in the account, write an equation that models the amount of money in the account each month for the first year.

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2022-01-10T15:53:04+00:00
2022-01-10T15:53:04+00:00 1 Answer
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## Answers ( )

The equation is y = x + 35.275.Step-by-step explanation:Step 1;Gizmo starts at $425 and the monthly rate of return is 8.3%. Soevery month he gets back 8.3% of the $425he starts with. To calculatehow much 8.3% of $425 iswe make 8.3% a fraction by dividing it by 100 and multiplying it with the amount.8.3% of $425= × $425 = 0.083 × $425 =$35.275.So every month $35.275 is added to the balance of the account.

Step 2; Assume

y is the amount of money in the account at the end of the month while x is the amount of money at the end of the previous month’s end.Using x and y we can form the following equation,y = x + 35.275.For the first month,y = x + 35.725 = 425 + 35.725 = $460.725.For the second month, y = x + 35.725 = 460.725 + 35.725 = $496.45.For the third month,y = x + 35.725 = 496.45 + 35.725 = $532.175.For the fourth month,y = x + 35.725 = 532.175 + 35.725 = $567.90.For the fifth month,y = x + 35.725 = 567.90 + 35.725 = $603.625.For the sixth month,y = x + 35.725 = 603.625 + 35.725 = $639.35.For the seventh month,y = x + 35.725 = 639.35 + 35.725 = $675.075.For the eighth month,y = x + 35.725 = 675.075 + 35.725 = $710.80.For the ninth month,y = x + 35.725 = 710.80 + 35.725 = $746.525.For the tenth month,y = x + 35.725 = 746.525 + 35.725 = $782.25.For the eleventh month,y = x + 35.725 = 782.25 + 35.725 = $817.975.For the twelfth month,y = x + 35.725 = 817.975 + 35.725 = $853.70Gizmo then adds $250 to the $853.70 at the beginning of the second year.