Jim deposits $15,000 in an account on January 1. Starting on January 2, he withdraws $100 each morning. Find the amount in his account on the evening of January 27. (Hint: For a₁ = 15,000, the amount remaining 26 days later will be what term of the sequence?) A) $12,700 B) $12,600 C) $12500 D) $12,400

Question

Quizplus · Accepted Answer

The amount of money left in the account after n days can be modeled by the arithmetic sequence:

a_n = 15000 - 100n

We want to find a_26, which represents the amount in the account on the morning of January 27th (since he started making withdrawals on January 2nd).

a_26 = 15000 - 100(26) = 15000 - 2600 = 12400

Therefore, the amount in Jim's account on the evening of January 27th (after making the withdrawal) is $12,400, which corresponds to choice D.

Jim Deposits $15,000 in an Account on January 1