Homework Help: Math

Posted by Kate on Tuesday, July 12, 2011 at 9:00am.

Imagine you have invested $500 in an account that pays 5% simple interest per year. Can you find an arithmetic sequence to look for the amount of money in the account after 20 years?

Math - Reiny, Tuesday, July 12, 2011 at 9:17am
since it is simple interest, the annual increase in the account would be .05(500) or $25

so in an A.S.
a = 500
d = 25
n = 20

term(20) = a+19d = 500 + 19(25) = 975

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