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\begin{tabular}{|l|r|}
\hline
\multicolumn{2}{|c|}{Savings Account} \\
\hline
Month & Balance \\
\hline
Jan. & [tex]$\$[/tex] 10,000[tex]$ \\
\hline
Feb. & $[/tex]\[tex]$ 10,500$[/tex] \\
\hline
Mar. & [tex]$\$[/tex] 11,000[tex]$ \\
\hline
Apr. & $[/tex]\[tex]$ 11,500$[/tex] \\
\hline
May. & [tex]$\$[/tex] 12,000[tex]$ \\
\hline
Jun. & $[/tex]\[tex]$ 12,500$[/tex] \\
\hline
Jul. & [tex]$\$[/tex] 13,000[tex]$ \\
\hline
Aug. & $[/tex]\[tex]$ 13,500$[/tex] \\
\hline
Sep. & [tex]$\$[/tex] 14,000[tex]$ \\
\hline
Oct. & $[/tex]\[tex]$ 14,500$[/tex] \\
\hline
Nov. & [tex]$\$[/tex] 15,000[tex]$ \\
\hline
Dec. & $[/tex]\[tex]$ 15,500$[/tex] \\
\hline
\end{tabular}

Tai Chan started a savings account when he turned 30 in January. The first year's account activity is shown in the chart. He continued to save the same amount every month.

What will Tai Chan's balance be in January of next year?

A. [tex]$\$[/tex] 16,000[tex]$
B. $[/tex]\[tex]$ 16,500$[/tex]
C. [tex]$\$[/tex] 20,000$



Answer :

GinnyAnswer
To determine Tai Chan's balance in January of the next year, let's follow these steps:

1. Observe the Given Data:
The savings account balances for each month of the first year are given in the table. The balance in December is [tex]$15,500. 2. Determine the Monthly Increase: By examining the monthly balances: - January: $[/tex]10,000
- February: [tex]$10,500 - March: $[/tex]11,000
- and so on...

We notice that each month's balance is consistently [tex]$500 more than the previous month's balance. 3. Calculate the Balance for January of Next Year: Since the savings habit continues consistently with the same monthly increase, we can determine the balance for the next month (i.e., January of the next year). - Balance in December: $[/tex]15,500
- Monthly increase: [tex]$500 Therefore, the balance in January of next year will be: \[ \text{Balance in January of next year} = \text{Balance in December} + \text{Monthly increase} \] \[ \text{Balance in January of next year} = \$[/tex]15,500 + \[tex]$500 = \$[/tex]16,000
\]

Thus, Tai Chan's balance in January of next year will be $16,000.

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