A deposit of $8000 is made in an account that earns 5% interest compounded quarterly. The balance in the account after n quarters is An = 8000(1.0125)n , n = 1, 2, 3, . . . . (a) Compute the first eight terms of the sequence {An}. (b) Find the balance in the account after 10 years by computing the 40th term of the sequence.
A deposit of $8000 is made in an account that earns 5% interest compounded quarterly. The balance in the account after n quarters is An = 8000(1.0125)n , n = 1, 2, 3, . . . . (a) Compute the first eight terms of the sequence {An}. (b) Find the balance in the account after 10 years by computing the 40th term of the sequence.
Chapter12: Sequences, Series And Binomial Theorem
Section: Chapter Questions
Problem 328PT: Find the first term and common difference of an arithmetic sequence whose ninth term is -1 and the...
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A deposit of $8000 is made in an account that earns 5% interest compounded quarterly. The balance in the account after n quarters is An = 8000(1.0125)n , n = 1, 2, 3, . . . . (a) Compute the first eight terms of the sequence {An}. (b) Find the balance in the account after 10 years by computing the 40th term of the sequence.
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