A retiree invests $5,000 in savings plan that pays 4% per year. What will the account balance be at the end of the first year ?
2 answers:
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Answer: (C) 13,120
<u>Step-by-step explanation:</u>
Given the sequence {4, 12, 36, 108, ... , 8748} we know that the first term (a) is 4 and the ratio (r) is
Input the values above into the Sum formula:
Simple...
change them all into fractions or decimals...
0.7---> 0.7
-->>0.77
--->>0.875
Ordering from greatest to least....
0.875-->>0.77-->>0.7
-->>-->>0.7
Thud, your answer.
change them all into fractions or decimals...
0.7---> 0.7
Ordering from greatest to least....
0.875-->>0.77-->>0.7
Thud, your answer.
