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Oliga [24]
3 years ago
15

Lucas invests $12,500 in an account that earns 6.2% compound interest if Lucas does not make any additional deposits or withdraw

als how much will be in his account after 16 months?
Mathematics
1 answer:
kow [346]3 years ago
3 0
Assuming it is compounded monthly, Lucas will have $28,128,737.86 in his account after 16 months. 
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In an arithmetic sequence, a17 = -40 and
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Tn = 2Tn-1 - Tn-2

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Before we can generate the recursive sequence, we need to find the nth term of the given sequence.

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Tn = a+(n-1)d

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T17 = a+(17-1)d = -40

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If a28 = -73

T28 = a+(28-1)d = -73

a+27d = -73 ...(2)

Solving both equations simultaneously using elimination method.

Subtracting 1 from 2 we have:

27d - 16d = -73-(-40)

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Substituting d = -3 into 1

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Given a = 8, d = -3, the nth term of the sequence will be

Tn = 8+(n-1) (-3)

Tn = 8+(-3n+3)

Tn = 8-3n+3

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Tn-2 = Tn-2d...(4)

Tn-2 = 11-3n-2(-3)

Tn-2 = 11-3n+6

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From 3, d = Tn - Tn-1

From 4, d = (Tn - Tn-2)/2

Equating both common difference

(Tn - Tn-2)/2 = Tn - Tn-1

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Tn - Tn-2 = 2Tn-2Tn-1

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The recursive formula will be

Tn = 2Tn-1 - Tn-2

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