1.
Sam puts $1.25 into his piggy bank in January 2013. Each month he increases how much he puts in by 4 cents.
How much money will he put in his piggy bank in April 2016?
A)$157.25
B)$16.85
C)$3.35
D)$2.81 2.
Sarah's yearly salary is based on a geometric sequence. Her yearly salaries for her first three years are $34,000 , $35,020, and $36,070.60
What will be her yearly salary for her 7th year?
A)$41,140
B)$40,000
C)$40,597.78
D)$41,815.71
1.
There are 39 months between January 2013 and April 2016.
39 x 0.04 cents =$1.56 - the increase in his saving by April 2016
$1.56 + $1.25 =$2.81 - Amount he must put in his piggy bank in April 2016.
2.
$34,000 x 1.03^6 =$40,597.78 - Sarah's expected salary by 7th year.
Or, you could use the nth term formula to find the same thing:
Nth. Term = F x R^(N - 1)
7th. term =$34,000 x 1.03^6 =$40,597.78 - Which is the same as above.
