Professor Brown has $275,000 on deposit with TIAA at the start of 2015 and receives 3.65% interest per year on his account. Inte

Question

3 years ago

15

Professor Brown has $275,000 on deposit with TIAA at the start of 2015 and receives 3.65% interest per year on his account. Inte

rest on these accounts is compounded and credited daily. a) find a recursive sequence that models the amount An in his account at the end of the nth day of 2015. b) find the first 8 terms of the sequence An, rounded to the nearest cent. c) Find a formula for An

Mathematics

1 answer:

Mariulka [41] · Answer 1 · 2022-05-02T22:02:57+03:00

Mariulka [41]3 years ago

7 0

Just gonna take a guess in case no one answers.

F(x) = .0365(x)275,000 + 275,000

is you wanna find out the 8th term plug in 8 for x...
should be
357,500 on year 8