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2 answers:
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Answer:
$18,726.11
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First lets change 9% into a decimal:
9% -> -> 0.09
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
<u>The balance after 5 years is $18,726.11</u>
Given expression is 35, 36, 37, 38...
First term a = 35
Common difference d = 36-35 = 1
Nth term of arithmetic sequence is:
To find the 100th term, substitute n = 100
Correct option is B