Concept explainers
(a)
The recursive sequence that models the amount
(a)
Answer to Problem 1P
The recursive sequence that models the amount
Explanation of Solution
Given:
Initial amount deposited at the start of 2015 is 275,000 and the rate of interest is
Formula used:
Formula to calculate the amount at the end of the nth day is,
Calculation:
The total number of days in a year is 365.
The rate of interest per day is calculated by the formula,
Rate of interest is
Assume
Hence, the recursive sequence that models the amount
(b)
The first eight terms of the sequence
(b)
Answer to Problem 1P
The first eight terms of the sequence
Explanation of Solution
Given:
Initial amount deposited at the start of 2015 is
Calculation:
Substitute 1 for
Substitute 2 for
Substitute 3 for
Substitute 4 for
Substitute 5 for
Substitute 6 for
Substitute 7 for
Hence, the first eight terms of the sequence
(c)
The value of
(c)
Answer to Problem 1P
The value of
Explanation of Solution
Formula used:
Formula to calculate the nth term of the geometric sequence
Given:
Initial amount deposited at the start of 2015 is 275,000 and the rate of interest is
Calculation:
Since, the terms
Substitute
Hence, the value of
Chapter 12 Solutions
Precalculus: Mathematics for Calculus - 6th Edition
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