If you deposit $100 at the end of every month into an account that pays 3% interest
Question:
If you deposit $100 at the end of every month into an account that pays 3% interest per year compounded monthly, the amount of interest accumulated after n months is given by the sequence
(a) Find the first six terms of the sequence.
(b) How much interest will you have earned after two years?
Transcribed Image Text:
1.0025" – 1 In = 100 п 0.0025
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a Substitute 1 to 6 for n in In ...View the full answer
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