Question

Cami invested $6,000 into an account that earns 10% interest each year.

Is it Geometric or Arithmetic and what is the common difference/ratio?

Answer 1

Answer:

Arithmetic or Geometric? - Geometric

 

 Recursive: f(0) = 6000, f (n - 1) x 1. 1

 

 Explicit: f(n) = 6000 (1. 1)^n

Answer 2

This is Arithmetic problem because same amount of interest add every year.

Given:

Amount invested = $6,000

Rate of interest = 10% = 0.10

Find:

Amount of interest

Computation:

Simple interest = PRT

Simple interest = (6000)(0.10)(1)

Simple interest = $600 every year

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