After 10 years, there will have been 120 deposits. The last one earns 12%/12 = 1% interest, so is mutipied by 1.01. The one before is multiplied by 1.01². Overall, you have the sum of a geometric series of 120 terms with first term 10.10 and common ratio 1.01. That sum is given by the general formula
Sn = a1·(r^n -1)/(r -1)
S120 = 10.10(1.01^120 -1)/(1.01 -1)
S120 = 1010·2.30038689 ≈ 2323
At the end of the 10th year (before the first deposit of the 11th year), the account balance will be
$2,323
Answer: 3
Step-by-step explanation:
Since 6 + 6 is 12 so 3 + 3 is 6 and 12 + 6 is 18 and you multiply each side by two
Answer:
=3
Step-by-step explanation:
5b/c
=5*6/10
=30/10
=3
Answer:7881 years
Step-by-step explanation:
You can use the equation
fraction remaining = 0.5n where n is # of half lives elapsed
n = ?
fraction remaining = 1 - 0.612 = 0.388
0.388 = 0.5n
n = 1.37 = the # of half lives
1.37 x 5750 yrs = 7881 years
