Jamal deposits $1000 into a savings account on his 18th birthday. If the 2% interest is compounded yearly, how much will he have
1 answer:
The number of years (n) that the deposit stayed in his balance is given by: 65 - 18 = 47 years.
The future value (FV) of a deposit (P), deposited at an interest rate of r% compounded yearly for n years is given by
Given that <span>Jamal deposits P = $1000 into a savings account on for n = 47years at 2% interest compounded yearly, the amount in his bank account at the end of the period is given by
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The future value (FV) of a deposit (P), deposited at an interest rate of r% compounded yearly for n years is given by
Given that <span>Jamal deposits P = $1000 into a savings account on for n = 47years at 2% interest compounded yearly, the amount in his bank account at the end of the period is given by
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Question:
What is the common ratio between successive terms in the sequence?
27, 9, 3, 1
Answer:
common ratio =
Step-by-step explanation:
In a geometric progression, the common ratio, r, is the ratio of a term in the sequence to a preceding term in that same sequence. In other words, the common ratio is found by dividing a term by the term just before it. For example, if the geometric sequence is:
a, b, c, d...
The common ratio is found by any of the following;
r = ----------(i)
r = -----------(ii)
r = ------------(iii)
Any of equations (i) through (iii) will give the common ratio of the sequence.
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Now, from the question, the given sequence is;
27, 9, 3, 1
To get the common ratio, just divide the second term (9) by the first term (27) i.e
r = =
OR
You can also divide the third term (3) by the second term (9). i.e
r = =
OR
You can choose to divide the fourth term (1) by the third term (3). i.e
r =
Which ever adjacent terms you choose gives you the same result. Therefore, the common ratio of the given sequence is