A person invests $2,950 in an account that earns 6.4% annual interest. Find when the value of the investment reaches $5,000. If necessary, round to the nearest tenth. The investment will reach $5,000 in approximately years.

, and

for

step-by-step explanation:

we can analyze the pattern at which the terms increase. let us denote , , , so that we can call

note the following:

the pattern: to get the next term value, we just add the next term number (e.g. 1st, 2nd, to the previous term value (term values are the given numbers in the question, 1, 3, 6, 10, 15,

from , to get to , we add

from , to get to , we add

etc.

we need to form a recursive formula, a formula that has the next term as a function of the previous term. so a possible recursive formula can be

, and for

the answer is 2/54

step-by-step explanation: