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Gekata [30.6K]
3 years ago
9

Taylor invested $650 in an account paying an interest rate of 2.3% compounded

Mathematics
1 answer:
EleoNora [17]3 years ago
5 0

Answer:

Step-by-step explanation:

Given that:

Principal = $650

Interest rate, r = 2.3% = 0.023 compounded daily

Time, t it takes for final amount, A to reach $880

Using the relation :

A = P(1 + r/n)^nt

n = number of times compounded per period

Hence, n = 365

880 = 650(1 + 0.023/365)^365t

880/650 = 1.0000630^365t

1.3538461 = 1.0000630^365t

Take the log

0.1315692 = 0.0000273596 * 365t

0.1315692 = 0.0099862t

t = 0.1315692 / 0.0099862

t = 13.175101

t = 13.18 years a

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The recursive formula a_n = a_{n-1}-6 can be used to generate the shown sequence

Step-by-step explanation:

Recursive formula is the formula that is used to generate the next term of a sequence using previous term.

The general form of arithmetic sequence's recursive formula is:

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Given

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First of all we have to find the common difference of the sequence.

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Putting the value of d in the general recursive formula

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The recursive formula a_n = a_{n-1}-6 can be used to generate the shown sequence

Keywords: Sequence, arithmetic sequence

Learn more about arithmetic sequence at:

  • brainly.com/question/3375830
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Step-by-step explanation:

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