(a)
To find: The first six terms of the sequence.
(a)
Answer to Problem 76E
2004,2008,20012,20016,2020,2024
Explanation of Solution
Given: Julio deposits $2000 in a savings account that pays 2.4% interest per year compounded monthly. The amount in the account after n months is given by the sequence
First first sixth term of the sequence, put
Hence, the first six terms are 2004,2008,20012,20016,2020,2024
(b)
To find: The amount after 3 years.
(b)
Answer to Problem 76E
$2149.16
Explanation of Solution
Given: Julio deposits $2000 in a savings account that pays 2.4% interest per year compounded monthly. The amount in the account after n months is given by the sequence
In 1 year = 12 months
In 3 years = 36 months
Put
Hence, the amount in account after 3 years would be $2149.16
Chapter 12 Solutions
Precalculus: Mathematics for Calculus - 6th Edition
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