if i open 88 saving accounts using. the 52 week money challenge, how much wound i need in a separate account to fund the 88 accounts for the remaining 52 weeks

Question

Using the 52 week money challenge,

Example 1st week $1, second week $2

etc up to the 52 week, in a separate account 

how much would i need to fund the 88

accounts for the 52 weeks 

Answer 1

We find how much we would need for one account.  Once we find how much money we would need for that we can multiply by 88.  For one account we would have 1+2+3+...+50+51+52.  There is a formula for finding sums like this

 

n(n+1)

   2

 

So we have

 

52(52+1)  =  26*53 =1378

  2

 

Finally we multiply by 88 to get

 

1378*88 = 121,264