Question

A professional football player signs a six-year 2.50 million dollar contract, with a guaranteed 30% increase per year if he makes the All Pro team. If the player plays out the contract and makes the All Pro team each year, find the nth term of the geometric sequence that generates his annual salary and approximate his salary during the last year of his contract.
a 12.1 million dollars
b 9.28 million dollars
c 7.14 million dollars
d 9 million dollars

Answer 1

2.5*1.3^5=9.28 Million