## Related questions with answers

Question

Consider the sequence $\left\{A_n\right\}$ whose nth term is given by

$A_n=P\left(1+\frac{r}{12}\right)^n$

where P is the principal, $A_n$ is the amount at compound interest after n months, and r is the interest rate compounded annually. Find the first ten terms of the sequence if P=$9000 and r=0.115.

Solution

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