1.) I deposited P50,000 in a savings account. The account increases at a fixed amount of 3000 yearly with no deposits and no withdrawals. How much money will have in 5th year?
Problem: I deposited P50,000 in a savings account. The account increases at a fixed amount of 3000 yearly with no deposits and no withdrawals. How much money will have in 5th year?
The problem forms an arithmetic sequence...
Given:
a1 = P50,000
d = P3,000
a6 = ?
(Don't be confused why it's a6 and not a5, we started with our principal amount be a1 that's why)
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Verified answer
Problem: I deposited P50,000 in a savings account. The account increases at a fixed amount of 3000 yearly with no deposits and no withdrawals. How much money will have in 5th year?
The problem forms an arithmetic sequence...
Given:
a1 = P50,000
d = P3,000
a6 = ?
(Don't be confused why it's a6 and not a5, we started with our principal amount be a1 that's why)
Solution:
an = a1 + (n - 1)d
a6 = P50,000 + (6 - 1) × P3,000
a6 = P50,000 + (5) × P3,000
a6 = P50,000 + P15,000
a6 = P65,000
Answer: P65,000
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