You invest $4,000 in a bond that pay 3% annual interest compounded annually. How much money will you have in 20 years? Round to
1 answer:
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Answer:
=
+ 3 ; a₁ = 1
Step-by-step explanation:
Given
1, 4, 7, 10, 13, 16, ......
Note the difference in consecutive terms is constant, that is
4 - 1 = 7 - 4 = 10 - 7 = 13 - 10 = 16 - 13 = 3
Thus to obtain the next term in the sequence ( recursive formula )
Add 3 to the previous term
=
+ 3 ( with a₁ = 1 )