Annie took out a single payment loan for $680 that charged a $90 fee. How much does she have to pay by the time the loan reaches
1 answer:
You might be interested in
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
Common ratio is:
So r = 1.02
The general form for geometric sequence is:
Putting the first term and r
To find the 9th month's balance
Putting n=9
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:
#LearnwithBrainly