Phil bought a car by taking out a loan for $19,100 at 0.9% interest per month. Phil's normal monthly payment is $459.02 per month, but he decides that he can afford to pay $75 extra toward the balance each month. His balance each month is given by the recursively defined sequence given below. Bo = $19,100 B, = 1.009B, - 1- 534.02 Determine Phil's balance after making the first payment. That is, determine B1.
Phil bought a car by taking out a loan for $19,100 at 0.9% interest per month. Phil's normal monthly payment is $459.02 per month, but he decides that he can afford to pay $75 extra toward the balance each month. His balance each month is given by the recursively defined sequence given below. Bo = $19,100 B, = 1.009B, - 1- 534.02 Determine Phil's balance after making the first payment. That is, determine B1.
Chapter9: Sequences, Probability And Counting Theory
Section9.2: Arithmetic Sequences
Problem 73SE: Write an arithmetic sequence using a recursive formula. Show the first 4 terms, and then find the...
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