1. a student gets a summer job and she’ll receive a paycheck on the last day of the month in june, july, and august. if she immediately puts $ 100 each month into a savings account that pays 3% annual interest, but compounded monthly, how much money will accumulate in her account by the end of november when she’s ready to do her christmas shopping?

She will have $302.76

Step-by-step explanation:

A = P(1+i)ⁿ

3% annual interest = 3/12 = 0.25% p.m.

we have to solve this month by month because of the amount she is going to add.

P = 100

n = 1

A = 100 (1+0.0025)¹ = 100.25

P = 100 + 100.25 = 200.25

n = 1

A = 200.25 (1+0.0025)¹ = 200.50

P = 200.50+100 = 300.50

n = 3

A = 300.50(1+0.0025)³ = 302.76

answer: r there any options?

step-by-step explanation: