The 5 is on the ten thousand place.
The initial pay rate is $16.00. It is also mentioned that the price is marked up by 78.7%. It means that the prices are increased by 78.7%. Also, there is a profit of 10% too. So, the pay rates after mark up will be
$16.00 + (78.7% of 16.00)
= $16.00 + $12.592
=$28.592
And the pay rates after estimated profit is
$28.592 + (10% of $28.592)
= $28.592 + $2.8592
= $31.4512
Hence, the revised bill rate, rounded to the nearest cent is $31.45.
The recursive formula is 
.
<h3>What is Arithmetic Progression?</h3>
A set of numbers is an arithmetic progression (AP) or an arithmetic sequence such that the difference between successive words is unchanged.
Given:
A(n)=(-1)+(n-1)(-5)
A(n) = -1 - 5n + 5
A(n) = 4-5n
n=1
A(1)= 4-5= -1
n=2,
A(2) = -6
n=3
A(3)= -11
Hence, the recursive formula is .
Learn more about this concept here:
brainly.com/question/20113523
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