Ramel borrows $4,000 from his local credit union, to be repaid with 3.75% annual interest over 5 years. How much money will Ramel have paid back after 5 years? Help me because I have no idea what to do.

, 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

13.46

step-by-step explanation:

16.80 x .20 = 13.46