Look at attachment 10 POINTS!!!
1 answer:
You might be interested in
Answer:
The total amount received is: $1906650
Step-by-step explanation:
Given
--- initial
--- rate
--- time
Required
Determine the total amount at the end of 29 years
The given question is an illustration of geometric progression, and we are to solve for the sum of the first n terms
Where
Express percentage as decimal
The required is the calculated using:
So, we have:
<em>The total amount received is: $1906650</em>