William wants to invest $30,000 in a mutual fund.
1 answer:
Answer:
He will have $39,750 at the end of five years.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this question:
Interest earned:
Total amount:
He will have $39,750 at the end of five years.
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Given:
The different recursive formulae.
To find:
The explicit formulae for the given recursive formulae.
Solution:
The recursive formula of an arithmetic sequence is and the explicit formula is
, where a is the first term and d is the common difference.
The recursive formula of a geometric sequence is and the explicit formula is
, where a is the first term and r is the common ratio.
The first recursive formula is:
for
.
It is the recursive formula of an arithmetic sequence with first term 5 and common difference 5. So, the explicit formula for this recursive formula is:
Therefore, the correct option is A, i.e., .
The second recursive formula is:
for
.
It is the recursive formula of a geometric sequence with first term 5 and common ratio 3. So, the explicit formula for this recursive formula is:
Therefore, the correct option is F, i.e., .
The third recursive formula is:
for
.
It is the recursive formula of an arithmetic sequence with first term 5 and common difference 3. So, the explicit formula for this recursive formula is:
Therefore, the correct option is D, i.e., .