Find the amount of money accumulated if you invest $10,000 at 3% interest compounded quarterly for 2 years. Round your answer to
1 answer:
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Answer:
21.97%
Step-by-step explanation:
Answer:
= 5n - 2
Step-by-step explanation:
The nth term of an arithmetic sequence is
= a₁ + (n - 1)d
where a₁ is the first term and d the common difference
Given a₄ = 18 , then
a₁ + 3d = 18 , that is
3 + 3d = 18 ( subtract 3 from both sides )
3d = 15 (divide both sides by 3 )
d = 5
Then
= 3 + 5(n - 1) = 3 + 5n - 5 = 5n - 2 ← explicit rule