According to the rule of 70, how many years will it take an investment that is making 4.5 percent interest to double in size?
1 answer:
You might be interested in
Answer:
The explicit formula
The recursive formula
for
if
Step-by-step explanation:
If a sequence is arithmetical then the difference between any of its consecutive terms will be constant
3, 3.25, 3.5, 3.75,
The difference between the consecutive terms remains constant so the sequence is arithmetic.
The explicit formula for an arithmetic sequence is:
Where d is the constant difference between the terms.
is the first term of the sequence.
So
Finally, the recursive formula is: