Textbook ExpertVerified Tutor
29 Nov 2021
Given information
The provided equation associated with interest on deposition of is . The interest rate represented by 3 in percentage. There is a compounding in interest with respect to each month.
Step-by-step explanation
Step 1.
Take the help of provided equation and substitute 1 in place of n into it to obtain the term of the sequence which comes at first place.