Answer:
950, 1121.00, 1322.78, 1,560.88, 1,841.84
Step-by-step explanation:
Calculation to determine the sequences that describes his increasing monthly balance
Based on the information given in order for us to determine the sequence we have to multiply the amount owes by the interest rate and then add back the answer you got to the previous amount you multiplied the interest rate to.
First sequence will be the amount he owes on a credit which is $950
Second sequence
950 * .018 = 171.00
950 + 171.00 = 1121.00
Third sequence
1121.00 * .018 = 201.78
1121.00 + 201.78 = 1322.78
Fourth sequence
1322.78*0.18=238.10
1322.78+238.10=1,560.88
Last sequence
1,560.88*0.18=280.96
1,560.88+280.96=1,841.84
Therefore the sequences that describes his increasing monthly balance are:
950, 1121.00, 1322.78, 1,560.88, 1,841.84
