You invest $12,000 at 3.8% annual interest compounded annually. How much will you have at the end of 5 years?
1 answer:
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For the<span> geometric sequence, it has two forms of formula
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<span>We are interested in the recursive formula now
</span>
<span> {-80, 20, -5, ...}
The common ratio is (20/-80)=(-5/20)=-1/4=-0.25
So our r</span><span>ecursive formula would be
</span>
</span>
<span>We are interested in the recursive formula now
</span>
<span> {-80, 20, -5, ...}
The common ratio is (20/-80)=(-5/20)=-1/4=-0.25
So our r</span><span>ecursive formula would be
</span>
I hope that helps!