Answer:
14.2
Step-by-step explanation:
Answer: 2285.71
Step-by-step explanation:
Rearranging the simple interest formula, we have P = A / (1 + rt), where P is the Principal, r is the annaul rate and t is the time period.
r = R/100 = 5%/100 = 0.05 per year.
Solving the equation:
P = 3200 / ( 1 + (0.05 × 8)) = 2285.7142857143
32 = 2^5 <==== my answer is too short..lol
Savings and Loan Institutions.
Let
In order to prove this by induction, we first need to prove the base case, i.e. prove that P(1) is true:
So, the base case is ok. Now, we need to assume 
and prove 
.
states that
Since we're assuming , we can substitute the sum of the first n terms with their expression:
Which terminates the proof, since we showed that
as required
