College Algebra be specific.

Algebra
Tutor: None Selected Time limit: 1 Day

Suppose Javier invests $150 every 3 months into an account that pays 4% annual interest compounded quarterly. Provide a list of the account balance for the first 4 quarters. Is this an example of an arithmetic or geometric sequence?

Dec 11th, 2014

Quarter Investment BoP Balance Interest EoP Balance
0 $150.00 $150.00 $1.50 $151.50
1 $150.00 $301.50 $3.02 $304.52
2 $150.00 $454.52 $4.55 $459.06
3 $150.00 $609.06 $6.09 $615.15
4 $150.00 $765.15 $7.65 $772.80
This assumes that he starts with a $150 deposit right in the beginning (the question is a bit unclear)

Dec 11th, 2014

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