1)what is compound interest $660 at 3% compounded annually for 8 years
1 answer:
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We are given
sequence is 2 , 4 , 8 ,16 , 32 , .....
Firstly , we will check whether it is geometric sequence
Checking geometric sequence:
We will find common ratio between successive terms
and then we check whether they are equal
r1=(second term)/(first term)
r2=(third term)/(second term)
r3=(fourth term)/(third term)
r4=(fifth term)/(fourth term)
we can see that all four ratios are same
so, this is geometric sequence
Calculation of general term:
We got
common ratio is
Let's assume
number of terms is n
first term is 2
now, we can use formula
we can plug values
and we get
..................Answer