Answer:
D) $11,499.63
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, change 4% into a decimal:
4% -> -> 0.04
Since the interest is compounded 6 times a year, we will use 6 for n. Lets plug in the values now:
Your answer is D) $11,499.63
If the first term is 5/3 and the common difference is 1/3. Then the infinite sum of the geometric series will be 2.5.
<h3>What is a series?</h3>The sum of sequence terms is a series. That is, it is a list of integers connected by addition operations.
The sequence is given in the form of a variable.
The first term will be
And the common ratio will be
Then the sum of the geometric series will be given as
More about the series link is given below.
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