A savings account earns 8% interest each year, compounded quarterly (4 times a year). If a person invests $100 and makes no further deposits or withdrawals, what is the balance in the account after 3 years?

251.817012

Step-by-step explanation:

1. Write out equation to get 100(1.08)^n*4

2.  Use 3 for n

3. Simplify to get 100(1.08)^12

4. Solve to get 251.817012

$655.61 which is option c

step-by-step explanation:

price of house =   $146,000

initial rate = 3.5%

mortgaged paid in this = 3.5 % of $146,000

                                        =

                                        =$5110

the total years would be = 7

total mortgaged paid = 7 * $5110

                                      =$35770

remaining money = $146000-35770

                                =$110230

new mortgaged payment = 5 % of 110230

                                            =  

                                            =$655.61

step-by-step explanation:

part a. the differences are decreasing, so we know the sequence is not arithmetic. the ratios are constant (=3/4), so we know the sequence is geometric.

part b. from part a, we know the common ratio is 3/4, so each term is 3/4 of the one before. the initial term is the number of gallons at h=1.

g[h] = (3/4)·g[h-1]

g[1] = 384 . . . . initial value required for a recursive definition

part c. the general formula for a geometric sequence is

a[n] = a[1]·r^(n-1)

we have a[1] = 384, r = 3/4, and the term number given by h. the formula that follows is

g[h] = 384·(3/4)^(h-1)

part d. filling in the value and doing the arithmetic, we have

g[12] = 384·(3/4)^11 ≈ 384·0.042235136 ≈ 16.2183 . . gallons

part e. each gallon is 4 quarts, so

16.2183 gal × 4 qt/gal = 64.8732 qt