Kathy and Mark Smith believe investing in retirement is critical. Kathy begin investing 20% of each paycheck in a retirement acc
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Answer:
a) The formula for the sequence is
b)
Step-by-step explanation:
Note that the difference between any two consecutive terms in the sequence is always equal to $3,000
Then we have an arithmetic sequence where each term increases by a magnitude of 3,000 with respect to the previous term.
The explicit formula for an arithmetic sequence is:
Where d is the common difference between the consecutive terms of the sequence
is the first term, or the value of the house after year 1
n represents the number of years since the house was purchased
With
n={0, 1, 2, 3, 4, 5, 6, 7,.., n}
a) Then the formula for the sequence is
With
n={0, 1, 2, 3, 4, 5, 6, 7,.., n}
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b) Now we can use the formula to find the price of the house after 7 years