Question

EXAM HELP SOS

Sarah's yearly salary is based on a geometric sequence. Her yearly salaries for her first three years are $34,000 , $35,020, and $36,070.60
What will be her yearly salary for her 7th year?
A) $41,140
B) $40,000
C) $40,597.78
D) $41,815.71

Answer 1

The correct answer is C) $40,597.78

$34,000 x 1.03^6 =$40,597.78 - Sarah's expected salary by 7th year.

Or, you could use the nth term formula to find the same thing:

Nth. Term = ​F x R^(N - 1)

7th. term =$34,000 x 1.03^6 =$40,597.78