A large company put out an advertisement in a magazine for a job opening. The first day the magazine was published the company g
1 answer:
Answer:
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Step-by-step explanation:
we know that
A geometric sequence, is a sequence of numbers where each term after the first is found by multiplying the previous one by a fixed, non-zero number called the common ratio.
where
a_n----> term of the sequence
r ---> is the common ratio
a ---> the first term of the sequence
substitute
For n=12
substitute
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Since the interest is compounded, we will have to use the compound interest formula.
We Weill plug 7500 in for A, because that's the amount of money that we want to have at the end of some amount of time.
5000 will go in for P because that's the starting amount.
2.7% will be converted into a decimal percentage form. You can do this by dividing by 100, which you will get .027, and then plug that in for r, the rate.
Since the interest is compounded quarterly, n = 4.
After a bit of number crunching, you will get to the point where you have to solve for an exponent. You can easily do this by using the natural log ln(). One property of logarithm is that you can take the exponent and place it in front of the log. Now you can divide both sides to separate and solve for t.
Step-by-step explanation:
hope you can understand
