You invest $900 in an account that pays an interest rate of 5.5%, compounded continuously. calculate the balance of your account after 6 years. round your answer to the nearest hundredth

$1251.87

Step-by-step explanation:

You invest $900 in an account that pays an interest rate 5.5%, compounded continuously. Calculate the balance of your account after 6 years.

In this question it is given that interest 5.5% is compounded continuously, it means your principal amount is constantly earning interest. We use the formula :

Where A = Amount

           P = Principal amount ($900)

           e = Mathematical constant e

           r = rate of interest 5.5% ( 0.055)

           t = Time in years (6)

Now we put the values

A = 900 × 1.390968

A = 1251.871316 rounded to $1251.87

The balance of your account after 6 years would be $1251.87.

, and

for

step-by-step explanation:

we can analyze the pattern at which the terms increase. let us denote , , , so that we can call

note the following:

the pattern: to get the next term value, we just add the next term number (e.g. 1st, 2nd, to the previous term value (term values are the given numbers in the question, 1, 3, 6, 10, 15,

from , to get to , we add

from , to get to , we add

etc.

we need to form a recursive formula, a formula that has the next term as a function of the previous term. so a possible recursive formula can be

, and for

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answer