The math behind saving $2,765 in 1 year! The easiest savings plan ever.
Pay yourself first. Separate your spending money from you savings by opening a student checking and a student savings account.
If you simply start by saving $2.00 and double it every week for 52 weeks you will have over $2,700 by the end of the year.
Here's how using the arithmetic sequence formula: Sn= n(a1+an)/2 Sn= total ending amount n= # of weeks a1= amount deposited 1st week an= amount deposited on the last week = ($2 x 52 weeks=$104)
Let's see the work: Sn= 52($2+$104)/2 = 52($106)/2 = 5,512/2 = $2,756
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