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2 years ago

6

Bella wants to save for a vacation in three years and this vacation costs $2300. She deposits $2000 into a bank earning 5% inter

est compounded monthly. How much money does Bella have after 3 years?

1 answer:

ddd [48]2 years ago

5 0

Answer:

$2,323.2

Step-by-step explanation:

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

Where,

A = future value = ?

P = present value = 2,000

r = interest rate = 5% = 0.05

n = number of periods = 12

t = time = 3 years

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

= 2,000(1 + 0.05/12)^12*3

= 2,000( 1 + 0.00417)^36

= 2,000( 1.00417)^36

= 2,000(1.1616)

= 2,323.2

A = $2,323.2

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3 years ago

7. Are the ordered pairs below an arithmetic sequence or geometric

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Step-by-step explanation:

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$\{(1,55)\ (2, 45)\ (3, 35)\ (4, 25)\}$

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Solving (8):

$f(n) = f(1) + f(n-1)$

To find f(9), we substitute 9 for n

$f(9) = f(1) + f(9-1)$

$f(9) = f(1) + f(8)$

We need to solve for f(8); substitute 8 for n

$f(8) = f(1) + f(8 - 1)$

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We need to solve for f(7); substitute 7 for n

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We need to solve for f(5); substitute 6 for n

$f(5) = f(1) + f(5 - 1)$

$f(5) = f(1) + f(4)$

From the function, f(4) = 25 and f(1) = 55.

So:

$f(5)=55 + 25$

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$f(6) = 55 + 80$

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