3 years ago

What is the annual interest rate for an account that compounds monthly at a rate of 2.5%?

Mathematics

1 answer:

Svet_ta [14]3 years ago

6 0

Answer:

D 2.55%

Step-by-step explanation:

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Will give 25 points and brainliest answer if correct

Norma-Jean [14]

Let $d$ be the common difference between terms in the sequence $\{a_n\}_{n\ge1}$ . Then

$a_{19}=-58$
$a_{20}=a_{19}+d$
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The first term in the sequence, $a_1$ , satisfies

$a_2=a_1+d$
$a_3=a_1+2d$
$a_4=a_1+3d$
...
$a_{19}=a_1+18d$
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So the explicit formula for the $n$ -th term in the sequence is

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