The truth in lending act (tila) states that before getting a credit card or loan, the lender must disclose in plain writing the terms, the total costs of the loan or credit, and one other important item. what is that item? (hint: although the fdic has the full statement of the law here, research a reliable summary statement of the tila.)

answer: 12,000

step-by-step explanation: first you ar e supposed to add. then multiply then subtract

(a) {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …}

(b) $59 398

step-by-step explanation:

(a) the annual sequence of profits

aₙ = a₁rⁿ⁻¹

the model for the sequence of profits is {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …} .

(b) profit after 15 yr

  a₁ = $ 30 000

  r = 1.05

a₁₅ = 30 000 × 1.05¹⁴

a₁₅ = 30 000 × 1.979 93

a₁₅ = $59 398

the profit in year 15 will be $59 398.