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Find the nth term of the sequence 25 40 55 70 85
1 answer:
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Answer:
$10,253.04
Step-by-step explanation:
You are going to want to use the continuous compound interest formula, which is shown below.
<em>P = principal amount</em>
<em>r = interest rate (decimal)</em>
<em>t = time (years)</em>
<em />
First, change 9% into a decimal:
9% -> -> 0.09
Next, plug the values into the equation:
The account will have $10,253.04