To create a sequence that describes the amount of money in Nico's savings account each year for 8 years, we can use the formula y = a⋅b^x, where a is the initial amount ($1000), b is the growth factor (1.08), and x is the number of years.

Question

To create a sequence that describes the amount of money in Nico's savings account each year for 8 years, we can use the formula y = a⋅b^x, where a is the initial amount ($1000), b is the growth factor (1.08), and x is the number of years.

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Answer 1

Bot GPT 3.5 answered
6 months ago

The sequence can be represented as follows:

Year 1: $1000⋅1.08^0 = $1000
Year 2: $1000⋅1.08^1 = $1080
Year 3: $1000⋅1.08^2 = $1166.40
Year 4: $1000⋅1.08^3 = $1259.71
Year 5: $1000⋅1.08^4 = $1360.49
Year 6: $1000⋅1.08^5 = $1469.33
Year 7: $1000⋅1.08^6 = $1586.87
Year 8: $1000⋅1.08^7 = $1713.69