$3000 deposit that earns 6% annual interest compounded quarterly
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In x th month, members = . Option D.
Step-by-step explanation:
Given,
Initially number of members = 3
Every month each member brought 1 new member.
To find the number of members after x months.
<u>Solution:</u>
In 1st month, members = 3
In 2nd month, members = 3×3 = 9 = 3²
In 3rd month, members = 9×9 = 81 =
In 4th month, members = 81×81 = 81 = 6561 =
Hence,
In x th month, members =