Question

$650 is invested in an account at 3%

simple interest per year. Write the
first 5 terms of the sequence that
shows the value of the account at
yearly intervals.

Answer 1

Explanation:

Simple interest =
`650*(3)/(100)=$19.5`

End of first year = 650+19.5 = $669.50

End of second year = 669.50+19.5 = $ 689

End of third year = 689+19.5 = $708.50

End of fourth year = 708.50 +19.5 = $ 728

End of fifth year = 728 +19.5 = $747.50