Friday

December 19, 2014

December 19, 2014

Posted by **Jenny** on Monday, February 11, 2013 at 6:03pm.

An = 1,000(401)(1.0025^n - 1).

(a) Compute the first six terms of the sequence {An}.

(b) Find the balance in the account after 5 years by computing the 60th term of the sequence.

(c) Find the balance in the account after 30 years by computing the 360th term of the sequence.

**Answer this Question**

**Related Questions**

finance - 14. Assume Julian has a choice between two deposit accounts. Account A...

Finance - You deposit $1000 for 5 years at 4% annual interest. In 5 years, you ...

Finite Math and Applied Calculus - Betty Sue sets up a retirement account. For ...

math - if you deposit $700 a month in a savings account that earns 4% interest ...

math - if you deposit $700 a month in a savings account that earns 4% interest ...

math - If you have a savings of $2235 and deposit the amount into an account ...

math - This problem has to do with exponential models. The question says, you ...

Business Math - 1. Lee Holmes deposited $16,700 in a new savings account at 6% ...

math - a bank account earns 7% annual interest compounded continuously. you ...

Finite Mathematics - Jessica wants to accumulate $14,000 by the end of 5 yr in a...