We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
Answer:
Where is the triangle shown below?
Step-by-step explanation:
For this case, the arithmetic sequence is given by:
an = 17n-1
Let's check it:
First week:
n = 1:
a1 = 17 (1) -1
a1 = 17-1
a1 = 16
Second week:
n = 2:
a2 = 17 (2) -1
a2 = 34-1
a2 = 33
Third week:
n = 3:
a3 = 17 (3) -1
a3 = 51-1
a3 = 50
Answer:
the explicit rule for the arithmetic sequence that defines the number of boxes of cereal sold in week n is:
an = 17n-1
Answer:
(1,4)
Step-by-step explanation:
(x,y)→(1,4)
