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Ida's ice-cream stand has increasing profits each week during the hot summer months. Ida finds that each week during the summer her profits increase by 15% over what they were the previous week. In her first week of business, her profits were $600.

 

How much money will she make in all over 5 weeks?

 

Enter your answer, rounded to the nearest cent, in the box.

 Feb 7, 2018

Best Answer 

 #1
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Sum them up as geometric series:

Sum =F x (1 - R^N) / (1 - R), where F=First term, R=Common Ratio, N=Number of terms.

Sum =600 x (1 - 1.15^5) / (1 - 1.15)

Sum =600 x (1 - 2.0113571875) / -0.15

Sum =600 x (-1.0113571875) / -0.15)

Sum =600 x        6.74238125

Sum =$4,045.43

 Feb 7, 2018
 #1
avatar
+3
Best Answer

Sum them up as geometric series:

Sum =F x (1 - R^N) / (1 - R), where F=First term, R=Common Ratio, N=Number of terms.

Sum =600 x (1 - 1.15^5) / (1 - 1.15)

Sum =600 x (1 - 2.0113571875) / -0.15

Sum =600 x (-1.0113571875) / -0.15)

Sum =600 x        6.74238125

Sum =$4,045.43

Guest Feb 7, 2018

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