Answer:
option D is true.
Step-by-step explanation:
Given the sequence
7, 12, 17, 22, ...
An arithmetic sequence has a constant difference 'd' and is defined by
Computing the differences of all the adjacent terms
The difference between all the adjacent terms is the same
so
as
Thus, the nth term of the arithmetic sequence will be:
Therefore, option D is true.
Answer:
The effective interest rate, rounded to the nearest tenth, is 0.1%.
Step-by-step explanation:
The banker's rule is the simple interest formula.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly) and t is the time, in years.
The effective interest rate is given by the following formula:
.
In this problem, we have that:
A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. We consider that the year has 360 days. This means that .
So
The effective interest rate is
The effective interest rate, rounded to the nearest tenth, is 0.1%.