A deposit of $8000 is made in an account that earns 5% interest compounded quarterly. The balance
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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 quarters is
(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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An = 8000 (1 + 0.05 4 n n = 1, 2, 3, . . ..
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a b A 8000 1 4 80001005 4 ...View the full answer
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