If you know the seventh term in an arithmetic sequence and the common difference,
1 answer:
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Answer: $3,664.21
Formula:
- P = principle/original amount = $3000
- r = rate of interest = 4% = 0.04
- t = time period (in years) = 5
- A = the new amount
- e = Euler's number ≈ 2.718...
Substitute in the values:
<u>Approximately $3,664.21</u>
<em>I think this is how you solve it o_O</em>