Chapter 12: 45 (page 816)
Find each sum
Short Answer
The solution is
Chapter 12: 45 (page 816)
Find each sum
The solution is
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Get started for freeIn Problems 51–60, write out each sum.
Education IRA: On January 1, 1999, John’s parents decided to place \(45 at the end of each month into an Education IRA.
(a) Find a recursive formula that represents the balance at the end of each month if the rate of return is assumed to be 6% per annum compounded monthly.
(b) How long will it be before the value of the account exceeds \)4000?
(c) What will be the value of the account in 16 years when John goes to college?
In Problems 51–60, write out each sum.
In Problems 51–66, determine whether each infinite geometric series converges or diverges. If it converges, find its sum.
A pond currently has 2000 trout in it. A fish hatchery decides to add an additional 20 trout each month. In addition, it is known that the trout population is growing 3% per month. The size of the population after n months is given by the recursively defined sequence.
(a) How many trout are in the pond at the end of the second month? That is, what is p2?
(b) Using a graphing utility, determine how long it will be
before the trout population reaches 5000.
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