<p>The <em>Acme</em> insurance company sells two savings plans, Plan A and Plan B.</p>
<p>For Plan A, an investor starts with an initial deposit of $ \$ 1000$ and increases this by $\$ 80$ each month, so that in the second month, the deposit is $\$ 1080$, then ext month it is $\$1160$ and so on.</p>
<p>For Plan B, the investor again starts with $\$ 1000$ and each month deposits $6\%$ more than the previous month.</p>
<ol class="abc-list"><li><div class="list-item-paragraph">Write down the amount of money invested under Plan B in the second and third months.<span class="inline-marks">[2]</span></div></li></ol>
<p><em>Give your answers to parts (b) and (c) correct to the nearest dollar.</em></p>
<ol class="abc-list" start="2"><li><div class="list-item-paragraph">Find the amount of the $12^{\mathrm{th}}$ deposit for each Plan.<span class="inline-marks">[4]</span></div></li><li><div class="list-item-paragraph">Find the total amount of money invested during the first $12$ months</div><ol class="i-list"><li><div class="list-item-paragraph">under Plan A;<span class="inline-marks">[2]</span></div></li><li><div class="list-item-paragraph">under Plan B.<span class="inline-marks">[2]</span></div></li></ol></li></ol>

The *Acme* insurance company sells two savings plans, Plan A and Plan B.

For Plan A, an investor starts with an initial deposit of $ \$ 1000$ and increases this by $\$ 80$ each month, so that in the second month, the deposit is $\$ 1080$, then ext month it is $\$1160$ and so on.

For Plan B, the investor again starts with $\$ 1000$ and each month deposits $6\%$ more than the previous month.

Write down the amount of money invested under Plan B in the second and third months.

*Give your answers to parts (b) and (c) correct to the nearest dollar.*

Find the amount of the $12^{\mathrm{th}}$ deposit for each Plan.

Find the total amount of money invested during the first $12$ months

APGP

International Baccalaureate Standard Level Mathematics