document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1178170>Question 1178170</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you are saving your money to pay for a vacation for your family. So far, you have 400$ saved. You plan on saving more each month so you can pay for the vacation at the end of the year. Assume that you save 10% more each month than the previous month.\r<BR>\n" );
document.write( "\n" );
document.write( "Part A: Write a formula that would show the amount you will have saved after  1 year.\r<BR>\n" );
document.write( "\n" );
document.write( "Part B: If the vacation costs a total of 8000$, will you be able to pay for it after 1  year?\r<BR>\n" );
document.write( "\n" );
document.write( "Part C: Explain why or why not. Show your work to support your answer. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #807332 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=807332\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> sum of a geometric series 400(1+.10)^12<BR>\n" );
document.write( "400+440+484+(rounding)532+585+644+708+779+858+944+1034+1137=$8545 approximation.<BR>\n" );
document.write( "r=1.1 (this is not going to converge, not if you want to go on vacation)<BR>\n" );
document.write( "sum is a(r^n -1)/(r-1)<BR>\n" );
document.write( "=400(1.1^12-1)/(1.1-1)<BR>\n" );
document.write( "=400*21.38=$8553.71<BR>\n" );
document.write( "It will be sufficient.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );