(2) Suppose that accumulation is governed by compound interest and the annual effective rate of interest in the k-th year is .02 + .01k. Find a5 and $51. Find T so that s/a5 = a(T).
(2) Suppose that accumulation is governed by compound interest and the annual effective rate of interest in the k-th year is .02 + .01k. Find a5 and $51. Find T so that s/a5 = a(T).
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 2E
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