If S6 = 737.856 and r
+ in
what is the value of a1?

(a) {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …}

(b) $59 398

step-by-step explanation:

(a) the annual sequence of profits

aₙ = a₁rⁿ⁻¹

the model for the sequence of profits is {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …} .

(b) profit after 15 yr

  a₁ = $ 30 000

  r = 1.05

a₁₅ = 30 000 × 1.05¹⁴

a₁₅ = 30 000 × 1.979 93

a₁₅ = $59 398

the profit in year 15 will be $59 398.

a. do i have the cash i need for down payment?

b. do i want to use my savings instead of credit?

c. can i afford the car?

d. can i use the credit in a better way?

e. could i put off buying the car for a while?

f. what will happen if i don't buy it now?

g. what are the costs of using credit?

hope this (: