Question
A vehicle is purchased on credit, divided into 11 monthly installments. The first month the quota is 500. In the following months there was an increase of 10% in relation to the previous month. The amount of the last installment will be
A) 610
B) 1050
C) 1000
D) 8250
A) 610
B) 1050
C) 1000
D) 8250
Answers
oobleck
This just a GP with
a = 500
r = 1.10
so a_11 = 500 * 1.10^10 = 1296.87
Looks like there's a typo somewhere ...
a = 500
r = 1.10
so a_11 = 500 * 1.10^10 = 1296.87
Looks like there's a typo somewhere ...
Help please
Why is r=1.10?