Step-by-step explanation:
Given that,
A meal plan lets students buy $20 meal cards.
Each meal card lasts about 8 days.
Let us assume that y denotes number of days for a 20 dollar meal card i.e. $20 every 8 days.
Let x = number of $ for another day.
So,
Hence, this is the required equation.
The common ratio of both the formulas is 3 and 2. The first formula is explicit and the second is the recursive formula.
<h3>What is the recursive rule?</h3>
A rule is defined such that its definition includes itself.
1.
The given sequence is
-2, -6, -18, -54
Common ratio ;
r = -6 / -2 = 3
This given formula is the explicit formula.
2.
The given sequence is
4, 8, 16, 32
Common ratio ;
r = 8 / 4 = 2
This given formula is the recursive formula.
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The sequence 2, 3, 5, 7, 11 are the first five prime numbers. A prime number is a positive integer which has exactly 2 positive integer factore, one factor being 1 and the other factor is the positive number itself. So the next prime numbers after 11 are 13, then 17, 19, 23, 29, 31, 37, 41, 43
The amount of money he will be able to withdraw after 10 years after his last deposit is $926,400.
<h3>Compound interest</h3>
- Principal, P = $2,000 × 12 × 4
= $96,000
- Time, t = 10 years
- Interest rate, r = 24% = 0.24
- Number of periods, n = 2
A = P(1 + r/n)^nt
= $96,000( 1 + 0.24/2)^(2×10)
= 96,000 (1 + 0.12)^20
= 96,000(1.12)^20
= 96,000(9.65)
= $926,400
Therefore, the amount of money he will be able to withdraw after 10 years after his last deposit is $926,400
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