You want to buy a new car for $22,654 and decide to take out an auto loan. You make a $3,200 down payment and finance the remain
der at an APR of 4.9 %. If you can only afford payments of $300, what is the term of the loan you should get?
1 answer:
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Answer:
<u>Step-by-step explanation:</u>
a) This is an arithmetic sequence where 3 is added to the previous term.
48 + 3 = 51
51 + 3 = 54
54 + 3 = 57
The recursive formula for this sequence is:
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b) This is a geometric sequence where 2.5 is multiplied to the previous term.
100(2.5) = 250
250 (2.5) = 625
625(2.5) = 1562.5
The recursive formula for this sequence is:
