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A deposit of $15,000 is made into an account that earns 5.5% interest compounded monthly. The balance in the account after n months is given by

a)Write the first six terms of the sequence:

15207.2, 15276.9, 15346.92, 15417.26, 15487.92, 15558.9

15068.75, 15137.82, 15207.2, 15276.9, 15346.92, 15417.26

15137.82, 15207.2, 15276.9, 15346.92, 15417.26, 15487.92,

15276.9, 15346.92, 15417.26, 15487.92, 15558.9, 5630.22

b)Find the balance in the account after 15 years.

$

$

$38243.68

$

c)Is the balance after 30 years twice the balance after 15 years?

Yes

No

Correct!