Question

Mandy has magic piggy bank that doubles any amount of money placed in it and adds P5 to the doubled amount. Mandy placed a certain amount of money in the piggy bank and got a new amount. Then she placed again another amount of money in the bank. if she got P43 in all, how much money did Mandy first place in he magic piggy bank?

Answer 1

Initial investment) * ( 1 + rate)^(number of times compounded)

this is a very important formula you should carry with you for the rest of your life.

=(3) * ( 1 + 100%=1+1=2)^(4)

=3* 2^4

=3* 2*2*2*2

=48

You could also just figure this out by pretending you have 3 dollars on Monday and pretend it doubles every day

This answer assumes the money has not doubled yet for Friday

mark ❤️