Question

In which scenario can the finite geometric series formula be utilized practically?

A) Calculating the total distance traveled by a car whose speed increases or decreases by a fixed percentage over equally divided time intervals.
B) Determining the average monthly sales growth of a company over a specific period, where each month's sales increase by a fixed ratio.
C) Estimating the total amount of interest accrued in a savings account that offers compounded interest at a fixed rate over several years.
D) Analyzing the population growth in a city where the population increases or decreases by a certain percentage annually.

Answer 1

The finite geometric series formula can be practically utilized in determining the average monthly sales growth of a company over a specific period, where each month's sales increase by a fixed ratio.

Step-by-step explanation:

The finite geometric series formula can be practically utilized in scenario B) Determining the average monthly sales growth of a company over a specific period, where each month's sales increase by a fixed ratio.

In this scenario, the sales growth can be represented as a geometric progression, where each term is obtained by multiplying the previous term by a fixed ratio.

By using the finite geometric series formula, we can calculate the total sales growth over the specific period.