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Corey opened a savings account with $1200 that pays no interest. He deposits an additional $200 each week thereafter. How much money would Corey have in the account 26 weeks after opening the account? Answer: $ □

Corey opened a savings account with $1200 \$ 1200 that pays no interest. He deposits an additional $200 \$ 200 each week thereafter. How much money would Corey have in the account 2626 weeks after opening the account?\newlineAnswer: $ \(\square\)

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Full solution

Q. Corey opened a savings account with $1200 \$ 1200 that pays no interest. He deposits an additional $200 \$ 200 each week thereafter. How much money would Corey have in the account 2626 weeks after opening the account?\newlineAnswer: $ \(\square\)
  1. Identify Deposits: Identify the initial amount deposited and the weekly deposit amount. Corey starts with $1200\$1200 and deposits $200\$200 each week.
  2. Calculate Total Deposits: Calculate the total amount deposited over 2626 weeks, excluding the initial deposit.\newlineTotal deposited over 2626 weeks = $200\$200 per week ∗* 2626 weeks\newlineTotal deposited over 2626 weeks = $5200\$5200
  3. Find Total Amount: Add the initial deposit to the total amount deposited over 2626 weeks to find the total amount in the savings account.\newlineTotal amount in the account = Initial deposit + Total deposited over 2626 weeks\newlineTotal amount in the account = $1200\$1200 + $5200\$5200\newlineTotal amount in the account = $6400\$6400

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