ana deposite 15,000 in a simple intereat account that pays 2.8 interest annually.how much interest will she earn after 6 years


Sagot :

Answer:

65970.69

Step-by-step explanation:

This is a geometric sequence but with interest so we will 1st find the common ratio (r)

a1= 15000

a2= 15000+15000(0.28) or 19200

a3=19200+19200(0.28) or 24576

to find r well use: a2/a1 and a3/a2 so:

19200/15000=1.28

24576/19200=1.28

So we know that r=1.28

ill use the formula:

an=a1^r(n-1)

where n is the number or kung pang ilan so 7th (AFTER 6 YEARS)

a1 is the 1st term so 15,000

r is the constant ratio so 1.28

a7=15000(1.28^7-1)

a7=15000(1.28^6)

a7=65970.69

65970.69 is what Ana will earn in 6 yrs