Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
Answer:
39 caramels
Step-by-step explanation:
The answer is 2 because the d/f is -5 so the term is bigger than 7
Answer:
Step-by-step explanation:
Sn=sum of the n terms of the geometric sequence.
a= the first term
r=the common ratio
n=numbers of terms.
Sn=a[(1-r^n)/(1-r)]
In this case:
a=-3
r=a₂/a₁=15/-3=-5
n=9
S₉=-3[(1-(-5)⁹) / (1-(-5))=
S₉=-3(1+1953125)/6)=
S₉=-3(1953126/6)=
S₉=-3(325521)
S₉=-976563
Answer: A. -976563
