We solve the question as follows:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Answer:
Step-by-step explanation:
BDC=95
Answer:
<em>Here</em><em> </em><em>is</em><em> </em><em>your</em><em> </em><em>answer </em><em>.</em><em> </em><em>Hope</em><em> </em><em>this</em><em> </em><em>helps</em><em>.</em>
Answer:
<h3>See explanations below</h3>
Step-by-step explanation:
1) Given the recursive function An=an-1 + 3 when a1 = 5, we are to find the first four terms;
First term a1 = 5
a2 = a1 +3
a2 = 5 + 3
a2 = 8
a3 = a2 + 3
a3 = 8+3
a3 = 11
a4 = a3 + 3
a4 = 11 + 3
a4 = 14
<em>The first four terms are 5, 8, 11 and 14</em>
<em></em>
<em>2) </em>For the recursive function An=an-1 + 2/3 when a1 = 1
a2 = a1 + 2/3
a2 = 1 + 2/3
a2 = 5/3
a3 = a2 + 2/3
a3 = 5/3 + 2/3
a3 = 7/3
a4 = a3 + 2/3
a4 = 7/3 + 2/3
a4 = 9/3
a4 = 3
<em>Hence the first four terms of the sequence are 2/3, 5/3, 7/3, 3</em>
<em></em>
3) For the recursive function An=an-1 + 12 when a1=30
a2 = a1 + 12
a2 = 30 + 12
a2 = 42
a3 = a2 +12
a3 = 42 + 12
a3 = 54
a4 = a3 + 12
a4 = 54+12
a4 = 66
<em>Hence the first four terms of the sequence are 30, 42, 54, 66</em>
11/24 of her allowance. 3/8=9/24 and 1/6=4/24. add them together and you get 13/24 and 1-13/24=11/24.
