Answer:
see explanation
Step-by-step explanation:
Given the recursive formula 
= 
and
= 2 
= 
, then
= ( multiply both sides by 4 )
a₃ = 4 × = 9
= 9 ( multiply both sides by 4 )
a₂ = 36
= 36 ( multiply both sides by 4 )
a₁ = 144
The first 4 terms are
144, 36, 9, 2
Answer:
Step-by-step explanation:
Answer: the value of her investment after 4 years is £8934.3
Step-by-step explanation:
The formula for determining compound interest is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount invested.
t represents the duration of the investment in years.
From the information given,
P = 8000
r = 2.8% = 2.8/100 = 0.028
n = 1 because it was compounded once in a year.
t = 4 years
Therefore,
A = 8000(1+0.028/1)^1 × 4
A = 8000(1+0.028)^4
A = 8000(1.028)^4
A = £8934.3 to the the nearest penny
