Shara brought 3 bags of chocolate candies for $1.25 each and 3 bags of gummy bears for $2.00 each. How much did she spend in all
1 answer:
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<h2>Answer:</h2>
n = 1
<h2>Explanation:</h2>Here we have the following Geometric Sequence:
Where:
The first term occurs when . Next the second term occurs when
, the third term when
and so on. Therefore, the appropriate value of n that lies on the domain for n is
Given Information:
Principle amount = P = $6,000
Interest rate = r = 4% = 0.04
Period in years = t = 5
Required Information:
How much interest will he earn in 5 years = ?
Answer:
Amount of interest = $1,299.92
Step-by-step explanation:
Using the formula given in the question,
Where B is the final amount, P is the initial amount, r is the interest rate and t is the number of years
The amount of interest earned is
Therefore, Quincy has earned $1,299.92 in terms of interest by investing $6,000 in a savings account at the rate of 4% annual interest for a period of 5 years.