Answer: $15385 should be deposited.
Step-by-step explanation:
The principal was compounded monthly. This means that it was compounded 12 times in a year. So
n = 12
The rate at which the principal was compounded is 7.8%. So
r = 7.8/100 = 0.078
It was compounded for 4 years. Therefore,
t = 4
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years. The total amount is given as $21000. Therefore
21000 = P (1+0.078/12)^12×4
21000 = P (1+0.078/12)^48
21000 = P (1+0.0065)^48
21000 = P (1.0065)^48
P = 21000/1.365
P = $15385
Answer:
<h3>1</h3>
Step-by-step explanation:
The nth term of an exponential sequence is expressed as ar^n-1
The nth term of a linear sequence is expressed as Tn = a + (n-1)d
a is the first term
r is the common ratio
d is the common difference
n is the number of terms
Let the three consecutive terms of an exponential sequence be a/r, a and ar
second term of a linear sequence = a +d
third term of a linear sequence = a + 2d
sixth term of a linear sequence = a + 5d
Now if the three consecutive terms of an exponential sequence are the second third and sixth terms of a linear sequence, this is expressed as;
a/r = a + d ..... 1
a = a + 2d ..... 2
ar = a+ 5d .... 3
From 2: a = a + 2d
a-a= 2d
0 = 2d
d = 0/2
d = 0
Substitute d = 0 into equation 1:
From 1: a/r = a + d
a/r = a+0
a/r = a
Cross multiply
a = ar
a/a = r
1 = r
Rearrange
r = 1
<em>Hence the common ratio of the exponential sequence is 1</em>
if x =7 then plug in 7 for x
4(7) - 2((7)+a) = 8
28 - 14 -2a = 8
14 - 2a = 8
-2a = -6
a = 3
