Question

A company estimates expenditures of $1.1 million in the first year, $1.4 million in the second year, $1.7 million in the third year, and so on. Assuming this trend continues, what is the expected expenditure for the nth year? 0.8 + 0.3n n + 0.3 (n − 1) + 0.3 n + 0.8 0.8(n − 1) + 0.3n

Answer 1

In the data that are given above, it can be seen that the first point is $1.1 million, the second is $1.4 million which is 0.3 million greater than the first. Also, the third is $1.7 million which is $0.3 million greater than the third. The equation that best represents the given scenario is,
                                          0.8 + 0.3(n)
The answer is the first choice.