QuestionFind Letisha's total in checking, savings, and college accounts after 12 months if she deposits \$125, \$75, and \$50 monthly.

Studdy Solution

STEP 1

Assumptions1. Letisha deposits $125 into her checking account every month. Letisha deposits$ 75 into her savings account every month3. Letisha deposits $50 into her college fund every month4. The deposits are made for12 months5. There are no other transactions (withdrawals, fees, interest) in these accounts

STEP 2

First, we need to find the total amount in each of Letisha's accounts after12 months. We can do this by multiplying the monthly deposit by the number of months.
For the checking account $Checking\, total = Monthly\, deposit_{checking} \\times Number\, of\, months$

STEP 3

Now, plug in the given values for the monthly deposit into the checking account and the number of months to calculate the total in the checking account.
$Checking\, total = \$125 \\times12$

STEP 4

Calculate the total in the checking account.
$Checking\, total = \$125 \\times12 = \$1,500$

STEP 5

Repeat the process for the savings account $avings\, total = Monthly\, deposit_{savings} \\times Number\, of\, months$

STEP 6

Plug in the given values for the monthly deposit into the savings account and the number of months to calculate the total in the savings account.
$avings\, total = \$75 \\times12$

STEP 7

Calculate the total in the savings account.
$avings\, total = \$75 \\times12 = \$900$

STEP 8

Repeat the process for the college fund $College\, total = Monthly\, deposit_{college} \\times Number\, of\, months$

STEP 9

Plug in the given values for the monthly deposit into the college fund and the number of months to calculate the total in the college fund.
$College\, total = \$50 \\times12$

STEP 10

Calculate the total in the college fund.
$College\, total = \$50 \\times12 = \$600$ After12 months, Letisha has $,500 in her checking account,$ 900 in her savings account, and $600 in her college fund.

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