Assuming that no payments are made during the time period, how much money would you owe back after 5 years if you borrowed $1,000 at an interest rate of 2% per quarter?
Assuming that no payments are made during the time period, how much money would you owe back after 5 years if you borrowed $1,000 at an interest rate of 2% per quarter?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.1: Infinite Sequences And Summation Notation
Problem 33E
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Transcribed Image Text:Assuming that no payments are made during the time period, how much money would you owe back
after 5 years if you borrowed $1,000 at an interest rate of 2% per quarter?
Transcribed Image Text:A
C
D
F
H
1
2
3
Arithmetic Sequence
Geometric Sequence
4
First Term
3.72
First Term
2.29
Common Difference
5.25
Common Ratio
1.035
6.
7
Sequence Terms (a_n)
nth Partial Sums (S_n)
Sequence Terms (a_n)
nth Partial Sums (S_n)
In
8
1
3.72
3.72
1
2.29
2.29
9.
2
8.97
12.69
2
2.37015
4.66015
10
14.22
26.91
3
2.45310525
7.11325525
11
4
19.47
46.38
4
2.538963934
9.652219184
12
5
24.72
71.1
2.627827671
12.28004686
13
29.97
101.07
6
2.71980164
14.9998485
14
7
35.22
136.29
7
2.814994697
17.81484319
15
8
40.47
176.76
8
2.913519512
20.7283627
16
9
45.72
222.48
9.
3.015492695
23.7438554
17
10
50.97
273.45
10
3.121034939
26.86489034
18
11
56.22
329.67
11
3.230271162
30.0951615
19
12
61.47
391.14
12
3.343330652
33.43849215
20
13
66.72
457.86
13
3.460347225
36.89883938
21
14
71.97
529.83
14
3.581459378
40.48029876
22
15
77.22
607.05
15
3.706810456
44.18710921
23
16
82.47
689.52
16
3.836548822
48.02365803
24
17
87.72
777.24
17
3.970828031
51.99448607
25
18
92.97
870.21
18
4.109807012
56.10429308
26
19
98.22
968.43
19
4.253650258
60.35794334
27
20
103.47
1071.9
20
4.402528017
64.76047135
28
21
108.72
1180.62
21
4.556616497
69.31708785
29
22
113.97
1294.59
22
4.716098075
74.03318592
30
23
119.22
1413.81
23
4.881161507
78.91434743
31
24
124.47
1538.28
24
5.05200216
83.96634959
32
25
129.72
1668
25
5.228822236
89.19517183
33
26
134.97
1802.97
26
5.411831014
94.60700284
34
27
140.22
1943.19
27
5.601245099
100.2082479
35
28
145.47
2088.66
28
5.797288678
106.0055366
36
29
150.72
2239.38
29
6.000193782
112.0057304
37
30
155.97
2395.35
30
6.210200564
118.215931
38
31
161.22
2556.57
31
6.427557584
124.6434885
39
32
166.47
2723.04
32
6.652522099
131.2960106
40
33
171.72
2894.76
33
6.885360373
138.181371
41
34
176.97
3071.73
34
7.126347986
145.307719
42
35
182.22
3253.95
35
7.375770165
152.6834892
43
36
187.47
3441.42
36
7.633922121
160.3174113
44
37
192.72
3634.14
37
7.901109395
168.2185207
45
38
197.97
3832.11
38
8.177648224
176.3961689
46
39
203.22
4035.33
39
8.463865912
184.8600348
47
40
208.47
4243.8
40
8.760101219
193.620136
LAR LUW
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