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An arithmetic sequence has 2u6=S6=5, where S6 is the sum of the first 6 terms. Find the second term, u2, of the sequence.
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An arithmetic sequence has u3=5 and u7=−7.
Find the common difference d and the first term u1 of the sequence.
Hence find u10.
Find S10.
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Ella invests $500 in a savings account that earns 4% interest per annum, compounded quarterly.
Find an expression for the balance of Ella's savings after n years.
Calculate the value of Ella's savings after 12 years. Give your answer to the nearest dollar.
Ella wants to purchase a racing bike for $700.
Find the number of years after which her savings will be sufficient to purchase the bike.
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Esther invests $12000 in an index fund that pays 8% interest per annum, compounded monthly.
Give an expression for the value of Esther's investment after n years.
Calculate the amount of interest Esther will earn over the first 4 years. Give your answer to the nearest dollar.
Esther wants to use the money to buy a car for $27000.
Find the number of years Esther will have to wait.