Concept explainers
(a)
To compute: the first eight terms of this sequence.
(a)
Answer to Problem 121E
The first eight terms of the sequence
|
Explanation of Solution
Given information:
A deposit of $5000 is made in an account that earns 3% interest compounded quarterly. The balance in the account after
Calculation:
Determine the first eight terms of the sequence
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 |
Result: thus, the first eight terms of the sequence
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(b)
To find: the balance in this account after 10 years by computing the 40th term of the sequence.
(b)
Answer to Problem 121E
The balance after 10 years in this account will be $6741.74.
Explanation of Solution
Given information:
A deposit of $5000 is made in an account that earns 3% interest compounded quarterly. The balance in the account after
Calculation:
Determine the balance in this account after 10 years by computing the 40th term of the sequence as shown below:
Consider the sequence.
Plug in
Result: Thus, the balance after 10 years in this account will be $6741.74.
Chapter 8 Solutions
Precalculus with Limits: A Graphing Approach
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning