SOLUTION: Joe turned 5 years old today. In honor of his birthday, his mother put $0.05 in his piggy bank. Each month she plans to double the amount of money in his piggy bank. Write an equat

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Question 662965: Joe turned 5 years old today. In honor of his birthday, his mother put $0.05 in his piggy bank. Each month she plans to double the amount of money in his piggy bank. Write an equation for the amount of money in Joe's piggy bank in terms of the number of months after his 5th birthday.
What would be the equation for this problem? I cant seem to figure it out.
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
Joe turned 5 years old today.
In honor of his birthday, his mother put $0.05 in his piggy bank.
Each month she plans to double the amount of money in his piggy bank.
Write an equation for the amount of money in Joe's piggy bank in terms of the number of months after his 5th birthday.
:
Let m = no. of months from his 5th birtday
:
A = .05%282%5Em%29
:
Mom will have to rethink this, after only 18 months he will have: $13,107