answer is -17
You deposit $4000 in an account earning 4% interest compounded monthly. How much will you
1 answer:
You might be interested in
Using geometric sequence concepts, it is found that:
a) The rule is: .
b) An exponential relationship exists between the two variables.
<h3>What is a geometric sequence?</h3>A geometric sequence is a sequence in which the result of the division of consecutive terms is always the same, called common ratio q.
The nth term of a geometric sequence is given by:
In which is the first term.
A geometric sequence represents an exponential relationship between the variables.
In this problem, considering that the first-place finisher wins half of $1.500.000 in total prize money, and each finisher earns half of the one who finished above, the first term and the common ratio are given by:
.
Hence the nth term of the sequence is given by:
More can be learned about geometric sequence concepts at brainly.com/question/11847927
#SPJ1