Answer:
$560
Step-by-step explanation:
Given that :
Principal, P= $500
Interest rate, r = 12% per year
Amount in account after 1 year
Time = 1 year
Using the relation :
A = P(1 + rt)
A = final amount in account
A = $500(1 + 0.12(1))
A = $500(1 + 0.12)
A = $500(1.12)
A = $560
Given nth term of an AP = 7-4n
Put n = 1 then t1 = 7-4(1) = 7-4 = 3
Put n = 2 then t2 =7-4(2) = 7-8 = -1
Common difference = t2-t1 = -1-3 = -4
That would be 37.5 percent
