Answer:
$22,510.96
Step-by-step explanation:
Final investment value
$22,510.96
Total interest earned
$7,510.96
Initial balance
$15,000.00
Total monthly deposits
$0.00
Effective Annual Rate (APY)
7%
Will award brainiest if you answer correctly
1 answer:
You might be interested in
For the given geometric sequence, we have:
So the correct option is B.
<h3>Which is the recursive formula?</h3>Here we have the geometric sequence:
To get the initial value of the geometric sequence, we just need to replace n by 1, so we get:
Now, notice that the common ratio is (-1/3), this means that each term of the sequence is (-1/3) times the previous term.
Then the correct option is B.
If you want to learn more about geometric sequences:
#SPJ1