Answer:
Step-by-step explanation:
In a geometric sequence, the next term is a constant times the previous term. This constant is determined by dividing the second term by the first, here giving 5. The remaining terms are checked to see that each is 5 times the previous. 75 is 15×5, 375 is 75×5.
Alternately, the nth term is first term times k^(n-1).
Here, that's 3×5^(10-1), 3×5^9=5859375
Ni is not correct. To solve
the equivalent quarterly interest rate, the annual interest rate should be multiplied
by the correct ratio. Since the annual interest rate is 4% per year. So in 1 quarter
is equal to 0.25 year.
<span>(4% / year) (0.25 year/ 1
quarter) = 1% per quarter</span>
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