10
QuizMultiple Choice

Simple Interest and Arithmetic Sequences — Quiz

Question 10 • Mathematics for Data and Financial Literacy

Victor has been paying off his student loan with consistent payments. Over the past few years, his remaining loan balances were $⁢10,000 , $⁢9,500 , $⁢9,000 , $⁢8,500 , $⁢8,000 , ... What is the formula for the arithmetic sequence that represents the decreasing balances of Victor's student loan?

Answer
A
an=10,500−500⁢(n−1)
B
an=10,000−500⁢n
C
A sub n is equal to 10 comma 500 plus 500 n
D
an=10,000−500⁢(n−1)