Question

Leo's bank balances at the end of months 1, 2, and 3 are $1500, $1530, and $1560.60,

Answer 1

Leo's balance after 9 months will be: $1757.49

Step-by-step explanation:

It is given that the balances follow a geometric sequence

First of all, we have to find the common ratio

Here

$a_1 = 1500\\a_2 = 1530\\a_3 = 1560.60$

Common ratio is:

$r = \frac{a_2}{a_1} = \frac{1530}{1500} = 1.02\\r = \frac{a_3}{a_2} = \frac{1560.60}{1530} = 1.02$

So r = 1.02

The general form for geometric sequence is:

$a_n = a_1r^{n-1}$

Putting the first term and r

$a_n = 1500 . (1.02)^{n-1}$

To find the 9th month's balance

Putting n=9

$a_9 = 1500 . (1.02)^{9-1}\\= 1500.(1.02)^8\\=1757.4890$

Rounding off to nearest hundredth

$1757.49

Hence,

Leo's balance after 9 months will be: $1757.49

Keywords: Geometric sequence, balance

Learn more about geometric sequence at:

• brainly.com/question/10772025
• brainly.com/question/10879401

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