Question

in 2011 jane deposited $5000 in a fixed term deposit. if it increases in value by 4.5%pa, what will be the value in 2015. this is form sequence and series module please help not sure which formulae to use

Answer 1

sorry can't help you with that... LOL

Answer 2

ok

Answer 3

5000*1.045^4 type that into a calculator

Answer 4

then

Answer 5

press enter

Answer 6

did that got a huge number and

Answer 7

then you misread my expression probably. You are taking 1.045 to the fourth power only, not 5000*1.045

Answer 8

yeah got 5962.593003

Answer 9

and there is your answer

Answer 10

can you show me the steps to get here

Answer 11

are going to help me