4. How much interest does a $318 investment earn at 9% over two years?
1 answer:
You might be interested in
Answer:
Step-by-step explanation:
Since the sequence is geometric (it multiplies the previous number each time). The nth term sequence would be
Because the sequence multiplies by 3 each time, The base number in that equation would be .
So of the equation would be:
.
Compare the 2 equations:
4, 12, 36
3, 9 ,27
The difference between the 2 equations is: 1, 3, 9 which itself is a geometric sequence so the nth term of this new equation is: .
Combine these 2 equations together and you get:
.