Question:

If $8000 is invested at 3% interest, compounded annually,

Last updated: 7/13/2022

If $8000 is invested at 3% interest, compounded annually,

If $8000 is invested at 3% interest, compounded annually, then after n years the investment is worth an = 8000(1.03)" dollars. Find the first five terms of the sequence {a}. Step 1 For an = 8000(1.03), we have a₁ = 8000(1.03)¹ = a2 = 8000(1.03)² = and