What is the 6th term of the geometric sequence when the first term is 6 and the common ratio is 7? 5,489,031,744 130,691,232 326
1 answer:
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<u>Answer-</u>
The total cost of his purchase will be $3,846.34
<u>Solution-</u>
Here, the annual interest rate is 17.45%.
So monthly interest rate will be,
With a purchase of $3,740, the amount will be after one month,
Then she makes a payment of $1350, so the balance at the end of month 1 is
Now she has to pay with $2444.37 as principal amount, the amount will be after one month,
Then she again makes a payment of $1350, so the balance at the end of month 2 is
Final month, she has to pay with $1129.91 as principal amount, the amount will be,
So the total cost, including interest, would be the sum of the three payments,