Step-by-step explanation:
In the recursive formula an = an−1 + 5
Suppose if a_5 is the nth term then previous term is a_4
To get the previous term we need to subtract 1 from the n
So a_n is the nth term
is the previous term
Here 5 represents the common difference between two terms
So value of previous term is represented by
Answer :
Answer:
$31.80
Step-by-step explanation:
<u><em>The complete question is</em></u>
Use the details of Oakley's new credit card to answer the question that follows. APR 11.9% compounded monthly Grace Period 28 days Minimum Payment 4% of the remaining balance or $25, whichever is higher Oakley charged $795 to his credit card last month. What is the first minimum payment he must make?
step 1
Find out the 4% of the balance of $795
so
This amount is higher than $25,
therefore
The first minimum payment he must make is $31.80