SOLUTION: Mr Tan saved a portion of his salary every month .Each month ,he saved 120% of what he saved in the previous month.At the end of 3 months ,he saved a total of $8373. How much money
Algebra ->
Finance
-> SOLUTION: Mr Tan saved a portion of his salary every month .Each month ,he saved 120% of what he saved in the previous month.At the end of 3 months ,he saved a total of $8373. How much money
Log On
Question 1044346: Mr Tan saved a portion of his salary every month .Each month ,he saved 120% of what he saved in the previous month.At the end of 3 months ,he saved a total of $8373. How much money did he save in the first month? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let the amount of money saved in the first month be n. Then:
n+1.2(n)+1.2(1.2)n=8373
3.64n=8373
n≈$2300 saved in the first month.
(