The initial investment = $250
<span>annual simple interest rate of 3% = 0.03
</span>
Let the number of years = n
the annual increase = 0.03 * 250
At the beginning of year 1 ⇒ n = 1 ⇒⇒⇒ A(1) = 250 + 0 * 250 * 0.03 = 250
At the beginning of year 2 ⇒ n = 2 ⇒⇒⇒ A(2) = 250 + 1 * 250 * 0.03
At the beginning of year 3 ⇒ n = 3 ⇒⇒⇒ A(2) = 250 + 2 * 250 * 0.03
and so on .......
∴ <span>The formula that can be used to find the account’s balance at the beginning of year n is:
</span>
A(n) = 250 + (n-1)(0.03 • 250)
<span>At the beginning of year 14 ⇒ n = 14 ⇒ substitute with n at A(n)</span>
∴ A(14) = 250 + (14-1)(0.03*250) = 347.5
So, the correct option is <span>D.A(n) = 250 + (n – 1)(0.03 • 250); $347.50
</span>
Answer: she needs to go 12 times
Step-by-step explanation:
The amount to be paid in rent after 2 years if the rent as of now is $3,000 will be; $3,213.675
The question allows that we choose the amount being paid as rent as of now.
Let the rent paid as of now be; $3,000
In essence; after the first year; the amount increases by 3.5% to become;
After the second year; we have;
Ultimately; the amount to be paid after 2 years will be; $3,213.675.
When given the opportunity to change rent contracts;
- A situation that will be beneficial would be a 3.5% reduction in rent per year
- A situation that will not be beneficial would be a 7% increase in rent per year.
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brainly.com/question/24712879
