Question 21 of 25
1 answer:
You might be interested in
Answer:
The required sequence is . The average rate of change from n = 1 to n = 3 is -7.5.
Step-by-step explanation:
From the given graph it is clear that the sequence is a GP because the all terms are half of their previous terms.
Here,
The common ratio of GP is 1/2.
The first term of the sequence is 20.
The formula for sequence is
Where a is first term and r is common difference.
The required sequence is
The formula for rate of change is
The average rate of change from n = 1 to n = 3 is
Therefore the required sequence is . The average rate of change from n = 1 to n = 3 is -7.5.
To solve this we are going to use formula for the future value of an ordinary annuity: ![FV=P[ \frac{(1+ \frac{r}{n} )^{nt} -1}{ \frac{r}{n} } ]](https://tex.z-dn.net/?f=FV%3DP%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7Br%7D%7Bn%7D%20%29%5E%7Bnt%7D%20-1%7D%7B%20%5Cfrac%7Br%7D%7Bn%7D%20%7D%20%5D)
where
is the future value
is the periodic payment
is the interest rate in decimal form
is the number of times the interest is compounded per year
is the number of years
We know from our problem that the periodic payment is $50 and the number of years is 3, so
and 
. To convert the interest rate to decimal form, we are going to divide the rate by 100%
Since the interest is compounded monthly, it is compounded 12 times per year; therefore,
.
Lets replace the values in our formula:
![FV=50[ \frac{(1+ \frac{0.04}{12} )^{(12)(3)} -1}{ \frac{0.04}{12} } ]](https://tex.z-dn.net/?f=FV%3D50%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7B0.04%7D%7B12%7D%20%29%5E%7B%2812%29%283%29%7D%20-1%7D%7B%20%5Cfrac%7B0.04%7D%7B12%7D%20%7D%20%5D)
We can conclude that after 3 years you will have $1909.08 in your account.
where
We know from our problem that the periodic payment is $50 and the number of years is 3, so
Since the interest is compounded monthly, it is compounded 12 times per year; therefore,
Lets replace the values in our formula:
We can conclude that after 3 years you will have $1909.08 in your account.