The common difference is 12
Further explanation:
It is given that the infinite sequence is an arithmetic sequence
The common difference is the difference between consecutive terms of an arithmetic sequence.
Here,
The common difference is denoted by d.
Here,
The common difference is same for all proceeding terms.
So,
d = 12
Keywords: Infinite arithmetic sequence, Common difference
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Answer:
His parents should invest $15,278.16 to reach this goal ⇒ 4th answer
Step-by-step explanation:
* Lets explain how to solve the problem
- Derrick will need $39,500 in 10 years for college tuition
∴ The future amount is $39,500
∴ The time for investment is 10 years
- P is the money his parents invest now at 9.5% annual interest,
compounded daily
∴ The rate is 9.5% per year compounded daily
- The formula of the compounded interest is:
, where
# A is the future value of money
# P is the value of investment
# r is the rate of interest in decimal
# t is the time of investment
# n is the period of the time
∵ A = $39,500
∵ t = 10
∵ r = 9.5/100 = 0.095
∵ n = 365 ⇒ compounded daily
- Lets use the formula above to find P
∴
∴
- Divide both sides by 2.58539
∴ P = $15278.16
∴ His parents should invest $15,278.16 to reach this goal