A principal of $3200 is invested at 7.75% interest, compounded annually. How much will the investment be worth after 13 years?

1 answer:

6 0

$~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$3200\\ r=rate\to 7.75\%\to \frac{7.75}{100}\dotfill &0.0775\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &13 \end{cases} \\\\\\ A=3200\left(1+\frac{0.0775}{1}\right)^{1\cdot 13}\implies A=3200(1.0775)^{13}\implies A\approx 8444.51$

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Jogging 6th time.

Step-by-step explanation:

We have been given that Vicki started jogging the first time she ran she ran 3/16 mile the second time she ran 3/8 mile and the third time she ran 9/16 mile.

We can see that the distance Vicki covers each time forms a arithmetic sequence, where 1st term is 3/16.

We know that an arithmetic sequence is in form $a_n=a_1+(n-1)d$ , where,