Question

Explicit rule that describes the rent in ‘n’ years. (Question 5)

Answer 1

Answer::

`f(n)=62000(1.03)^n`

Explanation:

• The first year rent = $62,000

,

• The rate of increase, r = 3% = 0.03

Since the rent increases by a common factor each year, we can find the explicit rule by using the formula for the nth term of a geometric sequence.

The nth term of a geometric sequence is calculated using the formula:

`T_n=a_1(r)^(n-1)`

In this case:

• a1 = 62,000

,

• r=1+0.03=1.03

Thus, an explicit rule that describes the rent after n years is:

`f(n)=62000(1.03)^n`